Project Description

Address

Cnr Mary Pleasant Drive and Birkdale Road, Birkdale QLD 4159

Purchase price

$23.3 million

Acquisition date

March 2015

Description

Completed in 1993 and later refurbished in 2008, Birkdale Fair is an enclosed neighbourhood shopping centre centrally located within the suburb of Birkdale, 23km east of Brisbane and is well serviced by infrastructure and amenities.  The centre is well positioned on a highly exposed thoroughfare and has a primary trade area population of approximately 21,000.

Features

The centre is anchored by a 3,694m2 Woolworths and 16 specialty stores, with total lettable area of 5,411m2 with on-grade parking for 315 cars over a site area of 2.1 hectares.

Key tenants

Woolworths, Nice Choice, Paradise Fruits, Birkdale Cellars.

Passing yield

6.3%1

Weighted average lease expiry (WALE)

1.8 years1

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1 Calculated as of 30 June 2017