JLL & Savills, as joint exclusive agents, are pleased to offer a 100% freehold interest in Mt Isa Village.
Mt Isa Village comprises a modern enclosed convenience sub-regional shopping centre, dual-anchored by a strongly trading full-line Coles Supermarket and a Kmart Discount Department Store, supported by 19 specialty shops, 2 kiosks and 2 ATMs.
Mt Isa Village is being offered For Sale by Expressions of Interest closing 3PM AEST, Thursday 18 March 2021.
Enclosed sub-regional centre dual anchored by Coles and Kmart. Dominant retail centre in expansive catchment. Convenience based centre with a low specialty ratio of 18.35%* of Total GLA. Strong trade area income profile. Exceptional supermarket performance and sustainable specialty GOCR. Substantial centre refurbishment in 2014 with total costs of $10M* including expansion & refurbishment of the Coles supermarket, refurbishment of Kmart, new majors loading docks, roof works, upgrade of common areas & mechanical plant upgrade. Attractive major tenant lease terms, including: Strong outgoings recovery, low turnover rent thresholds, Coles trading well into turnover rent. Strong income security ~71%* secured by Coles and Kmart. Long Major Tenant WALE ~11.5* years (by income). Value-add potential for an incoming owner exists, through leasing and remixing. Strong rental growth with fixed 4%-5%* specialty reviews and growing supermarket turnover rent. *Approx.
