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Stockland Townsville

This regional town centre is the leading centre located in the geographic heart of Townsville and houses the region’s only full-line Myer department store and full-line H&M. The retail precinct includes the Townsville and Nathan Street centres, featuring Woolworths, Big W in the main centre and Coles and Kmart in the Nathan Street centre. The complex also has seven mini-majors; a 700-seat food precinct and 179 specialty stores. A DA is approved for further expansion and there are 2.4 hectares of adjacent development land.

Location: Townsville, Qld
Acquisition date:Jun 1987/Mar 2012
Cost including additions:$171.2 million
Last Independent Valuation
Date:Jun 2018
Valuation:$191.3 million
Valuation $/m2:$6,478/m²^
Capitalisation rate:5.75%-6.50%
Discount rate:7.00%-7.25%
Car parking spaces:2,965
Gross lettable area:59,044 m²
Annual sales:$341.5 million
Speciality occupancy cost:15.1%
Weighted average lease expiry:8.2 years
NABERS:4.5 (Energy) 4.0 (Water)
Green Star rating:4.0 (As Built) 2.0 (Performance)
Major TenantsGLA m2Lease Expiry
Kmart7,416Sep 2021
Big W7,205Jun 2034
Woolworths4,200Dec 2031
Coles3,377Jul 2018
Myer12,023Oct 2037
  • ^ 100% interest
  • ** Includes the Townsville Kmart centre