Acure Asset Management
Jun 21, 20191 min
The Northwest Plaza Trust is purchasing a neighbourhood retail centre known as Northwest Plaza. The property has 9,357sqm of gross lettable area and a site area of 3.08 hectares.
The property is in Everton Park which is approximately 8.5km north of the Brisbane city centre in Queensland.
The Northwest Plaza has 9,357sqm of gross lettable area.
Purchase Price $42.5m
Year 1 Distribution Forecast 8.9%
Average (5yr) Distribution Forecast 8.7%
Projected Internal Rate of Return (IRR) 10.3%
Monthly Distributions from Settlement
Weighted Average Lease Expiry (“WALE”) by area of 6.8 years by income.
Tenant anchors including Woolworths (lease expiry 2032) and mini majors including Goodstart Early Learning, Stanford Swim School, The Reject Shop, Snap Fitness and Chipmunks Play Land and Cafe' that together contribute 55% of the net income of the property.