A Dominant and Established Large Format Retail Centre on a substantial 6.5 hectare land holding in the Heart of The Greater Western Sydney
Stonebridge & Colliers International are pleased to present for sale Homemaker Prospect, a long-established and proven Large Format Retail Centre strategically located in the heart of Greater Western Sydney benefiting from key infrastructure projects such as WestConnex, Western Sydney Airport, Sydney Metro West and Parramatta Light Rail.
Located on a high-profile site benefiting from dual street frontages in the suburb Prospect, Homemaker Prospect is 32 kilometres west of Sydney CBD and 9 kilometres south-west from Parramatta CBD.
The 25,770 square metre (sqm) Large Format Retail Centre consists of multiple freestanding buildings which sit across two separate titles, providing flexibility to an incoming purchaser. National and chain tenants secure large portions of income and gross lettable area, including Fantastic Furniture, Plush, Pauls Warehouse, The Good guys, Bing Lee and Nick Scali.
The Centre benefits from being centrally located at the heart of an established residential, large format and services retail precinct with exceptional access and exposure to the Great Western Highway and is within close proximity to the M4 Motorway.
Proposed planning reforms by the NSW Government are expected to benefit the sector and broaden permissible retail uses. Average LFR gross passing rental of $242/sqm supports strong rental growth in the short to medium term.
Investment Highlights:
- Prominent 65,500 sqm land holding in Greater Western Sydney
- 95% of Gross Income secured by National & Chain Tenants
- 634 car spaces (2.46 spaces per 100 sqm of GLA)
- WALE by income of 4.23 years (as at 1 July 2019)
- Functional layout and low site 39%* site coverage ratio
- LFR spending to reach $1.45 billion by 2028 at an annual average rate of 2.3%
*Approximate
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To discuss in further detail, or to arrange a presentation or inspection, please contact the selling agent Carl Molony on +61 439 032 028, or email enquiries@stonebridge.com.au.
Homemaker Prospect is for sale by International Expressions of Interest closing 2pm (AEST) on Thursday 4 July 2019.
