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Stockland Townsville#^

The centre is located in the geographical heart of Townsville and houses the region’s only full-line Myer department store. The retail precinct includes the Townsville and Nathan Street centres, featuring Woolworths and Big W in the Townsville centre and Coles and Kmart in the Nathan Street centre. Along with six mini-majors, a 750-seat Food Court and over 180 specialty stores. A first stage DA for the creation of an entertainment and lifestyle precinct was approved in May 2014.

Location: Townsville, Qld
Acquisition date: Jun 1987/Mar 2012
Ownership/Title: 50%/Freehold
Cost including additions: $168.60 million
Last Independent Valuation
Date: Dec 2015
Valuation: $229.0 million
Valuation $/m2: $7,520/m²^
Capitalisation rate: 6.00%-6.75%
Discount rate: 8.00%-8.25%
Car parking spaces: 1,991
Gross lettable area: 60,904* m2
Annual sales: $351.70 million
Speciality occupancy cost: 17.40%
Weighted average lease expiry: 9.2 years
NABERS: 3.5 (Energy) 4.0 (Water)
Green Star rating: 4.0 (As Built) 2.0 (Performance)
Major Tenants GLA m2 Lease Expiry
Kmart 7,416 Sep 2021
Big W 7,205 Jun 2034
Woolworths 4,200 Dec 2031
Coles 3,377 Jul 2018
Myer 12,023 Oct 2037
Footnotes
  • NB Includes vacancies held for remix
  • ^ 100% interest
  • ** Includes the Townsville Kmart centre