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Stockland Shellharbour

The major regional town centre is located on the south coast of NSW and is the largest retail town centre located within the trade area. It includes Myer, Kmart, Target, Coles, Woolworths, 15 mini-majors and 220 specialty stores. The centre boasts a redeveloped alfresco dining precinct with a total of ten casual dining tenancies, and an adjacent free-standing Greater Union theatre complex. The centre also includes two play areas and five star parents’ facilities, there are 2.8 hectares of additional land for future development.

Location: Shellharbour, NSW
Acquisition date:Jun 2003
Ownership/Title:100%/Freehold
Cost including additions:$518.1 million
Last Independent Valuation
Date:Dec 2017
Valuation:$765 million*
Valuation $/m2:$9,356/m²
Capitalisation rate:5.50%
Discount rate:7.25%
Car parking spaces:3,607
Gross lettable area:81,763 m²
Annual sales:$475.22 million
Speciality occupancy cost:16.0%
Weighted average lease expiry:8.2 years
NABERS:5.0 (Energy) 1.0 (Water)
Green Star rating:4.0 (As Built) 2.0 (Performance)
Major TenantsGLA m2Lease Expiry
Target7,154Jul 2025
Kmart6,600May 2032
Coles4,660May 2032
Woolworths3,876Dec 2032
Myer11,939May 2038
Footnotes
  • * Valuation excludes Lamerton House and Greater Union cinema acquisition.