Stonebridge, in conjunction with JLL, are pleased to present for sale Dee Why Grand, a rare dual-supermarket anchored neighbourhood shopping centre in Sydney’s affluent northern beaches, occupying an irreplaceable and high exposure town centre location only 14 kilometres* from the Sydney CBD.
The Centre is a premier convenience offering and is the retail component of a thriving mixed-use development, comprising the Dee Why Hotel, a 10-storey office building, 170 residential apartments plus a three-level basement car park.
Key highlights of the opportunity include:
- Dominant dual-supermarket neighbourhood centre anchored by national heavyweights Coles and ALDI plus two mini-majors, 24 specialties and five kiosks across 9,976 sqm of GLA
- A triple street frontage and exposure to Pittwater Road, the main arterial road servicing the Northern Beaches with 175,000* daily passing vehicles
- Highly affluent total trade area of over 139,000 people with an average per capita income 19% above the Greater Sydney average**
- Exceptional income security, 98% occupancy (by area), 5.3-year WALE (by area), average weighted rental increases of 3.4% and 94%* of income is underpinned by grocery, food, health and services
- Strong performing specialty stores with tenant productivity of $9,395/sqm*, 25% above benchmarks** and sustainable occupancy cost ratio of 13.5%
- Excellent parking provision for 412 basement car spaces on title (4.1 spaces per 100 sqm of lettable area)
- Institutional quality asset, managed by ISPT with $3.7 million common mall refurbishment completed
- Estimated fully lease net income of $4.44 million* per annum as at 1-Jun-24
Dee Why Grand is for sale via Expressions of Interest.
For further information or to arrange an inspection, please contact the exclusive selling agents.
* Approximate
** LocationIQ Mar-24
*** Urbis benchmark for ‘Double Supermarket Based Shopping Centres’
Financial data as at 1-Jun-24; turnover figures as at Jan-24
