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Stockland Hervey Bay

Hervey Bay is a single level sub-regional shopping centre located on the Fraser Coast, 300 kilometres north of Brisbane. The centre is anchored by Target, Kmart, Coles, Supa IGA, Spotlight and 104 specialty stores. A 20,000 sqm expansion successfully opened in 2015. A second stage DA has been approved to add another supermarket, an entertainment leisure precinct and associated specialties. The centre is the largest fully enclosed air conditioned mall between Rockhampton and Maroochydore.

Location: Hervey Bay, Qld
Acquisition date: Apr 2011
Ownership/Title: 100%/Freehold
Cost including additions: $185.60 million
Last Independent Valuation
Date: Jun 2015
Valuation: $195.0 million
Valuation $/m2: $5,285/m²
Capitalisation rate: 6.25%
Discount rate: 8.25%
Car parking spaces: 1,682
Gross lettable area: 36,896 m2
Annual sales: $180.4 million^^
Speciality occupancy cost: N/A
Weighted average lease expiry: 8.6 years
NABERS: 4.5 (Energy) 4.5 (Water)
Green Star rating: 4.0 (As Built)
Major Tenants GLA m2 Lease Expiry
Kmart 5,598 Jul 2034
Target 5,592 Jan 2023
Coles 4,000 Jul 2034
Supa IGA 2,349 Mar 2020
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