Arndale Shopping Centre
17-27 Cinderella Drive, Springwood, QLD, 4127, AU
JLL and CBRE are pleased to offer for sale Arndale Shopping Centre. A strong performing Coles anchored neighbourhood shopping centre, situated on an expansive 3.42ha site along the Pacific Motorway.
For Sale Individually or ‘In-One-Line’ with ‘The SEQ Neighbourhood Retail Collection’ via Expressions of Interest campaign closing Thursday 1st September 2022 at 4pm (AEST).
- The centre is anchored by a strong performing Coles supermarket forecast to pay immediate percentage rent and experiencing unprecedented growth - representing 5.2% YoY growth in trade. The asset is further supported by a 5.7-year WALE (by area), strong fixed annual reviews between 3.00% - 4.00% and a favourable net lease structure across all specialty tenancies.
HIGH EXPOSURE SITE
- The centre sits on an irreplaceable 3.42ha site adjacent to the Pacific Motorway (M1) between Brisbane and the Gold Coast, benefitting from a significant $5.2 billion^ funding program to improve connectivity between the two regions. Arndale Shopping Centre will be a direct beneficiary of this, ensuring long term growth of the region is sustainable.
DAILY NEEDS FOCUS
- Arndale Shopping Centre offers high exposure to non discretionary and daily needs retailers, underpinning 84% of total centre GFA.
- The sites favourable 'Principal Centre' zoning classification provides the ability to build up to 25 levels (90 metres) along the Pacific Motorway and 10 levels (32 metres) at the rear of the property. Located in a high growth corridor between Brisbane and the Gold Coast, this provides an incoming purchaser absolute flexibility for future development.
- The site is currently developed to a density of 33% (by GLA), offering, the ability for further value add options including further expansion of the centre, potential sub-division and divestment of certain precincts, development of potential pad sites and further repositioning of the tenancy mix off the back of recent positive leasing activity.
POSITIONED FOR GROWTH
- Arndale Shopping Centre acts as the main shopping destination for the immediate and broader catchment, servicing a strong trade area of 59,409^ people and continuing to show positive growth patterns.
^Location IQ - July 2022