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Stockland Shellharbour

Shellharbour is located on the south coast of NSW and is the largest regional shopping centre located within the trade area. It includes Myer, Kmart, Target, Coles, Woolworths, 14 mini-majors and over 230 specialty stores. The centre boasts an alfresco dining precinct, children’s play area and five star parents’ facilities, while the retail mix offers a strong fresh food, fashion and service provision. A redevelopment of the dining precinct to include an additional two restaurants is due to open September 2016. 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: $484.20 million
Last Independent Valuation
Date: Dec 2015
Valuation: $700.0 million
Valuation $/m2: $9,195/m²
Capitalisation rate: 5.75%
Discount rate: 8.00%
Car parking spaces: 3,645
Gross lettable area: 76,130 m2
Annual sales: $425.30 million
Speciality occupancy cost: 16.70%
Weighted average lease expiry: 9.6 years
NABERS: 4.5 (Energy) 1.5 (Water)
Green Star rating: 4.0 (As Built) 2.0 (Performance)
Major Tenants GLA m2 Lease Expiry
Target 7,171 Jul 2025
Kmart 6,500 May 2032
Coles 4,500 May 2032
Woolworths 3,870 Dec 2032
Myer 11,939 May 2038
  • NB Includes vacancies held for remix