Project Description

Address

Toormina Road, Toormina, Coffs Harbour NSW 2452

Purchase price

$83.3 million

Acquisition date

31 January 2018

Description

Toormina Gardens is a major sub-regional centre located in the southern Coffs Harbour suburb of Toormina, 9km from the city’s central business district. It is the only shopping centre servicing the southern suburbs of Coffs Harbour, attracting customer traffic of approximately 3.7 million people per annum.

Features

Anchored by leases to Woolworths, Coles, and Kmart, three mini-majors, 40 specialty tenants and four kiosks, Toormina Gardens has a total lettable area of approximately 21,200m² and both on-grade and rooftop parking for 918 cars.

Key tenants

Woolworths, Coles, Kmart, Best & Less, The Reject Shop, and Blooms Pharmacy

Passing yield

6.6%

Weighted average lease expiry (WALE)

5.1 years

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