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News release


Auburn Central Shopping Centre comes to market, demonstrating further activity in Australia’s sub-regional retail market

Sub-regional sales have continued to strengthen, with AUD3b of sales in 2013 and 2014 to date

​AUSTRALIA, 4 NOVEMBER 2014 – In more evidence of the strong activity in 2014 in Australia’s sub-regional retail market, Auburn Central Shopping Centre in New South Wales is being offered to the market.
On behalf of Holdmark Property Group, Simon Rooney from JLL has been appointed to sell Auburn Centre through an Expressions of Interest (EOI) campaign.

Auburn Central is the only sub-regional shopping centre located in the Auburn Main Trade Area.  It occupies a large site of approximately 50,000 square metres on the corner of Harrow Road and Queen Street and is located about 20 kilometres west of the Sydney CBD and about 6 kilometres from the Parramatta CBD.

The Centre is presented over a total gross lettable area of 18,460.7 square metres and is anchored by a Big W discount department store (DDS) and a strong trading Woolworths supermarket, one mini major, 41 specialties, four ATMs, four kiosks, 11 office tenancies and one pad site. The retail is provided over two levels with parking for 680 vehicles.

JLL’s Head of Retail Investments, - Australia, Simon Rooney said, “There has been a major focus on sub-regional centres by investor over the past two years, with over AUD 3.0 billion transacting over 2013 and 2014 to-date.

“The very high level of activity demonstrates strong demand for sub-regional assets, particularly those with positive retail fundamentals and a solid growth outlook; this was evident in the following sub regional transactions negotiated by JLL:

Deepwater Plaza, Woy Woy (NSW) AUD 98.5 million
Golden Grove Village, Golden Grove (SA) AUD 129.1 million
Sturt Mall, Wagga Wagga (NSW) AUD 61.2 million
Port Village Shopping Centre, Port Douglas (QLD) AUD 25.259 million 
Riverside Plaza, Queanbeyan (NSW) AUD 62.5 million
LLREP3 Portfolio (NSW & WA) in excess of AUD 610 million (fund recapitalised)

“The sale of the Lend Lease REP3 portfolio for in excess of AUD 610 million clearly demonstrated the strong and pent up domestic institutional demand.

“Yields have compressed as a result of growing competition, but yields remain high compared with historical levels, which suggests there is scope for further compression over the medium term,” said Mr Rooney.

Auburn Central is located in the Auburn Town Centre, with a Main Trade Area total population estimated at 123,000 residents in 2014, including 58,070 residents within the primary sector. The primary sector is undergoing a process of urban densification, with a variety of high-rise residential apartment developments under construction and proposed. 

The secondary east sector is also experiencing robust population growth, and this is expected to continue over the forecast period with a number of large scale residential developments nearing completion including Centenary Park and The Botanica Estate. 

Overall, the MTA is projected to reach 148,390 residents by 2026, including 74,960 residents in the primary sector, reflecting robust average annual growth of 1.6% driven predominantly by strong growth in the primary and secondary east sectors (source: MacroPlan Dimasi, October 2014)

Expressions of Interest to acquire Auburn Central Shopping Centre close at 12noon (AEDT), Thursday 4 December, 2014.