Coles Greenacre Shopping Centre
Greenacre, NSW 2190
0.75ha (1.85 acres)
Sydney Metro Coles Anchored Neighbourhood Centre Featuring Rare Supermarket Lease Structure
- Fully Leased Net Income $1,539,030 p.a.
- 88% Income secured by Coles
- WALE by Income by 9 years
Significant income growth potential is driven by the highly coveted, rare Coles lease structure which features a 15-year initial term plus multiple 5 and 10 year options. Coles and Liquorland are forecast to pay percentage rent at the end of this lease year given their low turnover threshold. This would be accompanied by an increased base rent, providing immediate income uplift to the Centre.
The 4,733sqm Centre requires minimal management given the strong performing Coles supermarket and Liquorland. The Centre is supported by two specialties and one kiosk, being a pharmacy, gift wares store and café. Coles and Liquorland occupy 91% of the Total Centre GLA and secures 88% of gross income.
Coles Greenacre Shopping Centre features exceptional catchment fundamentals, with a large pipeline of new dwellings identified in the Main Trade Area (MTA) driving population growth^. The City of Canterbury Bankstown LGA is forecast to grow to over 500,000 residents by 2036^, increasing at an annual average growth rate of over 1.5 times the Sydney Metro benchmark^. Coles Greenacre comprises the only Coles supermarket within the MTA^.
For Sale by Expressions of Interest closing Thursday 21 November 2019 at 2pm (AEDT)
Property ID: 503373150Last Updated: 5 Dec 2019