Stonebridge Property Group and First Asset Management, as exclusive sale agents, are pleased to present for sale City Centre Plaza, a rare opportunity to acquire a high yielding and dominant sub regional shopping centre prominently positioned in the heart of the growing Rockhampton region.
The key highlights of this opportunity include:
- Anchored by Coles and Target plus 28 specialty shops, 1 kiosk and 1 ATM with 99%* occupancy
- Coles lease extended to 2030 and is trading above turnover rent threshold (based on Dec-23 MAT)
- The only shopping centre in Rockhampton's CBD, servicing a Main Trade Area of over 125,000 people with exposure to a diverse and resilient local economy**
- 21,380 sqm* mixed-use zoned land holding with 4 street frontages + 20 metre height limit (Source: Rockhampton Region Planning Scheme 2015)
- Low gross specialty rents of $588/sqm* and average specialty gross occupancy cost ratio of 9.8%* (48% and 29% below industry benchmarks, respectively)
- Convenient basement and at-grade car parking for 440* vehicles (3.2 cars* per 100 sqm lettable area)
- Value-add opportunities including potential for large format retail, additional mini-majors and medical/health facilities
- Estimated fully leased net operating income of $3.04 million* p.a.*
*Approximate
**Location IQ
^Urbis benchmarks for Single DDS based shopping centre
City Centre Plaza is for sale via Expressions of Interest closing Thursday 14th March at 4:00pm (AEDT).
For further information or to arrange an inspection, please contact the exclusive selling agents.
Stonebridge Property Group:
Philip Gartland
+61 403 582 324
Jonathan Fox
+61 402 147 780
First Asset Management:
Angelo Efstathis
0418 884 480
