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Stockland Hervey Bay

This single level sub-regional shopping centre is located on the Fraser Coast, 300 kilometres north of Brisbane. The centre is the largest fully enclosed air conditioned mall between Rockhampton and Maroochydore. The centre is anchored by Target, Kmart, Coles, Spotlight and 95 specialty stores. A remix is currently underway replacing IGA with a newly opened JB HI-FI and adding a Sport First. A second stage DA has been approved to add another supermarket, an entertainment and leisure precinct and associated specialties.

Location: Hervey Bay, Qld
Acquisition date:Apr 2011
Ownership/Title:100%/Freehold
Cost including additions:$190.7 million
Last Independent Valuation
Date:Jun 2017
Valuation:$185 million
Valuation $/m2:$4,932/m²
Capitalisation rate:6.25%
Discount rate:7.50%
Car parking spaces:1680
Gross lettable area:37,511 m²
Annual sales:$196.19 million
Speciality occupancy cost:13.8%
Weighted average lease expiry:8.01 years
NABERS:5.0 (Energy) 4.0 (Water)
Green Star rating:4.0 (As Built) 3.0 (Performance)
Major TenantsGLA m2Lease Expiry
Kmart5,598Jul 2034
Target5,573Jan 2023
Coles3,955Jul 2034