Richmond Mall
Windsor Street 271, Richmond, NSW, 2753, AU
5,153 m²
Asset Description
JLL is privileged to present the opportunity to purchase Centennial Plaza, a dominant convenience retail centre located in the epicentre of the Snowy Mountains capital City Cooma.
Anchored by a high-performing Coles, the centre is one of three supermarket offerings in the vast Snowy-Monaro region expanding across 15,126 square kilometres and home to over 22,000 residents. The highly regarded tourist destination attracts nearly 2.7 million visitors a year, generating over $418 million of retail expenditure within the region.1,2,3
The established neighbourhood shopping centre provides a resilient income stream with 94% of gross income anchored by national & chain retailers. Anchored by the only Coles supermarket in the region, the centre is further supported by Reject Shop, 11 specialties and 3 office tenancies, providing a seamless experience for both residents and tourists.
Centennial Plaza is situated at the heart of Cooma’s retail precinct and provides convenient access to a combination of at-grade and basement carparks, accessible from Commissioner Street, with a total of 210 car bays available. Cooma is located at the heart of the Snowy Mountains and is conveniently located just over an hour drive from Australia’s Capital City and a short 50-minute flight from Sydney.
With $196 million in funding from the NSW State Government, the Snowy-Monaro region is set to benefit from the Snowy Mountains Special Activation Precinct Plan. This comprehensive 40-year master plan aims to transform the region and generate substantial investment and growth.4
To receive further information, or to arrange an inspection, please contact the exclusive marketing agents.
Footnote:
All figures stated are approximate.
All references to distances are as the crow flies.
All references to financial information is estimated as at 1 July 2024
1. Snowy-Monaro Region Council
2. .idcommunity – Snowy Monaro Regional Council Area
3. Snowy Monaro Regional Economic Development Strategy – 2023 Update
4. NSW Government – Snowy Mountains Special Activation Precinct
...
Attributes
Building area net
4,395 m²
Occupancy
95%
Year built
2008
Land area gross
6,099 m²
WAULT
3.84 years
Call for offers
25/06/2024
Media
Investment Highlights
Prominent Town Centre Location
Conveniently located south of Canberra in the epicentre of Cooma, the capital city of the Snowy Mountains.
Dominant Convenience Offering
One of only three supermarkets located in the Snowy-Monaro Region (15,126 sq/km).1
Resilient Income Stream
94% of income underpinned by national & chain retailers, offering a fully leased net income of $1.07 million p.a.
Guaranteed Rental Growth
80% of gross specialty income underpinned by attractive 3.00% or greater fixed annual reviews.2
Secure Rental Base with Attractive Upside
Low average gross specialty rental of $515 /sqm, 51% below benchmark providing future rental growth.3
Coveted Travel Destination
Highly desirable holiday destination with nearly 2.7 million visitors annually generating over $418 million of retail expenditure.4,5
Footnote:
All figures stated are approximate.
All references to distances are as the crow flies.
All references to financial information is estimated as at 1 July 2024
1. Snowy-Monaro Region Council
2. Includes Mini-Major income
3. Urbis Benchmark 2023 – Single Supermarket Total Retail Specialty Gross Rent
4. .idcommunity – Snowy Monaro Regional Council Area
5. Snowy Monaro Regional Economic Development Strategy – 2023 Update
Contact brokers
Centennial Plaza (0 Properties)
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Last updated
23 May 2024
