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Brand New Sub Regional Shopping Centre – part of a port...

2 Biggs Drive, WONTHAGGI VIC, 3995

For Sale

Property for Sale in 2 Biggs Drive, WONTHAGGI VIC, 3995

Listing ID:
11149043
Status:
Active
For:
Sale
Last Updated:
08/02/2019
Icon building

Property Type

Retail
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Land Area

34830 SQM
Icon size

Floor Area

11890 SQM
Icon parking

Parking

N/A

Brand New Sub Regional Shopping Centre – part of a portfolio sale

- New Sub Regional Shopping Centre which offers the only fully enclosed air conditioned mall in South Gippsland

- Anchored by Target Discount Department Store, Coles Supermarket & Liquorland, 2 mini-majors, 16 specialty shops, 5 kiosks, 2 ATMs and a Centrelink Office incorporating a total GLA of 11,890 sq m*

- Long term leases to Coles and Target (15 years plus options) who account for 54%* of the fully leased Gross Income

- Rare major lease structures with significant outgoings recoveries from both Coles and Target

- Secure income stream with the majority of leases structured on a net basis

- Excellent specialty tenant profile, majority leased to established National retailers, including The Reject Shop, Best & Less, Centrelink, Priceline, Commonwealth Bank, Prouds Jewellers, Jeanswest, Fone Zone, Michel’s Patisserie and Baker’s Delight

- Substantial depreciation benefits — completed in December 2012 — Low forecast capital expenditure

- The majority of future urban growth within the Bass Coast municipality is to be concentrated in Wonthaggi which is the region’s main centre for administration, retail, commercial, industrial and community facilities

- Efficient and convenient layout which encourages customers to all areas with the majors and mini-majors strategically located at either end of the common mall

- Convenient at-grade car parking for 438 vehicles* on a total site area of 3.483 hectares*

*Approx

This Shopping Centre is for sale as part of a portfolio sale which includes three other shopping centres:

- Target Kalgoorlie, WA - http://www.realcommercial.com.au/500906263
- Woolworths, Manjimup, WA - http://www.realcommercial.com.au/500906271
- Target Goulburn, NSW - http://www.realcommercial.com.au/500906267

The portfolio is for Sale by Expressions of Interest closing 4pm (AEDT) Thursday 7 November 2013

For more details, please email agent

Savills Melbourne

Level 48, 80 Collins Street, Melbourne, VIC 3000


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