• Convenience retail fundamentals with 70% of total Centre GLA underpinned by major & mini-major tenancies¹ and 45% of total Centre MAT weighted toward grocery and food retail tenants¹.
• Low & sustainable average specialty gross rent of $936/sqm¹, 18% below the Urbis Average of $1,136/sqm².
• Strong demographic tailwinds with Western Melbourne forecast to grow at 2.5% pa until 2036, adding an additional 482,643 to the region³.
• Outstanding development potential led by an ultra-low site coverage of 28%, driving the investment underwrite and providing ultimate flexibility for future development.
• Masterplan in place for an additional 190,578 sqm of developable mixed-use floor space across 17 buildings on 11 ancillary blocks surrounding the Centre³.
• DA Approved Stage 1 for entertainment & leisure precinct and 84-key serviced apartment building, with an additional DA lodged for a 10-level 13,000 sqm lettable area office building.

This unique opportunity to acquire a 50% passive interest in Sunshine Marketplace and partner with one of Australia’s leading retail asset managers and mixed-use developers, Vicinity, is being offered through an International Expressions of Interest (EOI) campaign closing on Wednesday 28th September 2022 at 2:00pm Australian Eastern Standard Time (AEST).

To obtain further information or to arrange an inspection, please contact the exclusive selling agents.

Footnotes

*Approximate

1 Forecast as at 1 December 2022 as derived from the supporting campaign financial pack.

2 Urbis Benchmark – Single Discount Department Store Benchmark 2021, Excluding Marketing.

3 Sunshine Marketplace Due Diligence package prepared by Macroplan, dated 16 June 2022.