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Woolworths Seacrest (Geraldton), Western Australia

75 Barrett Drive Wandina WA 6530

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EOI Current
Retail
Investment
Property No.

Attributes and Features

Annual Rental $1,138,445
Building Area 4713 sqm
Land Area 14900 sqm
Parking 236
Last Updated May 29, 2018
Status Current

Premium Neighbourhood Centre on the Mid-West Coast of Australia

For Sale by Expression of Interest closing 2pm (AWST) Wednesday 4 July 2018

VIEW PROPERTY VIDEO HERE

Cushman & Wakefield is proud to exclusively offer for sale a 100% interest in Woolworths Seacrest (Geraldton), a prime neighbourhood shopping centre located on the Mid West Coast of Western Australia.

Woolworths Seacrest (the ‘Centre’) presents an outstanding opportunity to purchase a strong performing neighbourhood shopping centre anchored by the best supermarket retailer in Australia under a brand new 12-year lease.

The Centre is a modern, architecturally designed, purpose-built shopping centre anchored by a full-line Woolworths supermarket plus BWS and is supported by a diverse and complementary mix of 7˄ specialty shops and a medical centre pad site. The Centre enjoys a high-profile location in the heart of a premium residential estate known as Seacrest Estate in the suburb of Wandina. The Centre is ideally located only 5 kilometres* south of Geraldton town centre and 414 kilometres* north of the Perth CBD.

The key investment highlights are as follows:

  • Dominant neighbourhood shopping centre with GLAR of 4,713 sqm*
  • Substantial 1.49 hectare* island site within Geraldton’s fastest growing residential estate
  • Anchored by Woolworths supermarket (including BWS) plus 7 specialty tenancies, 1 ATM, 2 kiosks, and a pad site medical centre^
  • Estimated Main Trade Area of 16,450 people (2017), forecast to grow at 1.2% per annum to 2031 (Location IQ)
  • Retail expenditure in Main Trade Area forecast to significantly grow at 4.4% p.a. from 2017-2031 (Location IQ)
  • Attractive weighted average lease expiry (WALE) of 9.5 years* (by income)
  • Defensive, non-discretionary retail offering underpinned by tenants including supermarket, liquor, medical, and a range of food catering outlets
  • Ample at-grade car parking for 236* car spaces (5.0:100 sqm GLAR)
  • Fully leased net income of $1.14 million per annum as at 30 June 2018
  • Specialty tenants are primarily subject to 4%-5% annual reviews, offering strong income growth
  • Near new, delivering significant depreciation benefits
     

* Approx.
˄ Current Configuration

Woolworths Seacrest (Geraldton), Western Australia75 Barrett DriveWandina, WA 6530
75 Barrett Drive Wandina WA 6530