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Stockland Glendale

Located on the northern fringe of Lake Macquarie, Glendale was the first of the true super centre outdoor shopping concepts combining retail, leisure and entertainment on a large 19.6 hectare site. The retail mix includes Kmart, Target, Aldi, Coles, Woolworths, Event Cinemas, Harris Farm Markets, JB Hi-Fi, Trade Secret, 84 specialty stores and is complemented by approximately 2,300 car parking spaces on one single level. A DA has been approved for redevelopment to expand the centre by 7,700 sqm.

Location: Newcastle, NSW
Acquisition date: Mar 1996
Ownership/Title: 100%/Freehold
Cost including additions: $104.40 million
Last Independent Valuation
Date: Dec 2015
Valuation: $298.5 million
Valuation $/m2: $5,414/m²
Capitalisation rate: 6.25%
Discount rate: 8.00%
Car parking spaces: 2,312
Gross lettable area: 55,131 m2
Annual sales: $314.70 million
Speciality occupancy cost: 15.70%
Weighted average lease expiry: 4.1 years
NABERS: 6.0 (Energy) 3.5 (Water)
Green Star rating: 3.0 (Performance)
Major Tenants GLA m2 Lease Expiry
Target 8,522 Jul 2021
Kmart 6,425 Nov 2020
Events Cinemas 5,324 Dec 2016
Coles 5,109 Mar 2026
Woolworths 4,952 Mar 2026