9/1A Ken Tubman Drive, Maitland, NSW, 2320, AU

Maitland Centre

Asset Description

JLL Retail Investments is excited to offer for sale the Maitland Centre, a prime repositioning opportunity allowing for a retail and showroom redevelopment or boutique cinema offering in the heart of Maitland**.

Maitland Centre is being offered for sale by an Expressions of Interest campaign closing at 4:00 pm (AEST) Wednesday, 23rd August 2023. To receive further information, or to arrange inspection, please contact the exclusive sales agents.

Sebastian Fahey | +61 459 423 588

David Mahood | +61 406 134 232

*All figures unless advised are approximate

**Subject to Council Approval (STCA)

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Attributes

Building area Gross

2,082 m²

Occupancy

100.00%

Year built

1977

Media

Investment Highlights

Unique Repositioning Opportunity: Providing significant value upside to both owner occupiers and developers, Maitland Centre provides an uinique opportunity to reposition 2,082 sqm of Gross Floor Area (GFA).

Retail Development Potential: The existing cinema layout provides an attractive opportunity to redesign the Centre into multiple tenancies or showrooms to create an internalised retail precinct (STCA).

Owner Occupier Offering: The 2,028 sqm building caters to owner-occupiers looking to grow their business's footprint in the well-established retail complex in the Maitland CBD (STCA).

Restoration into Boutique Theatre: Rare opportunity for a cinema operator to capitalise on the Centre's current significant fitout, repositioning the Centre into a boutique offering, preserving the historical establishment and enhancing the cinema.

Absolute Convenience: The Centre is positioned in the heart of the Maitland CBD on the main thoroughfare of Ken Tubman Drive with convenient shared parking for 100 vehicles.¹

Attractive Short-Term Holding Income: Maitland Centre is being offered with a 24-month lease to American listed Reading International Inc (NASDAQ:RDI), providing the incoming purchaser with a secured income stream.

Strong Regional Destination: Maitland is one of the fastest growing locations in NSW with an attractive annual population growth rate of 3.14% since 2016, attracting both families and tourists, further boosting the Centre's repositioning potential.^2,3

Major Investment in the Region: The Hunter Valley is experiencing significant investment and development, totaling $48 billion of economic output. The Hunter Valley is also underpinned by various thriving industries such as agriculture, business, mining and tourism.⁴