Adelaide shops fully leased in high profile location
160-168 Beach Road, Noarlunga Centre underpinned by ASX listed tenant
ADELAIDE, 23 October 2023 – 160-168 Beach Road, Noarlunga Retail Centre has come to market offering an excellent opportunity to acquire a fully leased asset.
National tenants include The Good Guys, Carpet Court, Forty Winks, Wallspan Kitchens, Choices Flooring and Distinctive Blinds across a combined GLA of 4127 sqm.
JLL’s Head of Capital Markets Ben Parkinson and Sales Executive Claudia Brace have been appointed to sell the property at 160-168 Beach Road Noarlunga on behalf of a private investor.
Ms Brace said the retail centre is fully leased to high-profile tenants generating a strong annual income of circa $870,000 p.a net.
“With exposure to 18,300 vehicles daily the site benefits from access from three street frontages and rear loading.
“In addition, the centre offers a WALE of 2.4 years that is underpinned by income from the ASX listed tenant The Good Guys,” Ms Brace said.
In a location underpinned by strong residential population, the growth in the immediate catchment will see a spike in new housing, with over 3,000 new homes expected to be created due to nearby developments, and government land releases including 22 hectares at Port Noarlunga and Noarlunga Downs set to generate 600 houses within 1km of Beach Road.
Ms Brace said the centre occupies over 1 hectare of prime land in an outstanding commercial and retail precinct.
“The property is just 300m from dominant regional shopping centre Colonnades making the location a true destination further supported by over 20 large format retailers in the precinct,” she said.
Ms Brace added a major upside for commercial investment in Adelaide is that the purchaser pays 0% Stamp Duty on Commercial purchases.
Expression of Interest closing Wednesday, 15 November 2023 at 4 pm (ACDT)
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.