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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Building Area

Property Description

Lennox Village location for sale. Dominant, bustling Sydney metropolitan neighborhood shopping center and community hub with a superior convenience, service and fresh food offer with highly accessible parking for 421 vehicles. It is a strategically located high-profile site of 34,490 sqm, 52 km west of the Sydney CBD with outstanding frontage to the Great Western Highway – a key arterial road linking to the Penrith town center, Parramatta and the Greater Sydney region.

Investment Highlights

·        Attractive double supermarket offering, featuring a recently refurbished, highly productive Woolworths supermarket and ALDI with immediate expansion opportunity 

·        Impressive and diverse tenant mix with major, chain and national retailers representing 83% of GLA and 71% of gross rent

·        Securely anchored by non-discretionary retail usages representing 89% of total MAT and 80% of gross rent via an exceptional convenience, food and service tenant base

·        Well-established and affluent trade area population of 33,980, expected to increase to 34,610 residents by 2028 including 15,830 residents (46%) in the PTA*

·        Significant trade area retail spending of $544 million, expected to reach $682 million by 2028, including $301 million in the PTA*

·        Secure cash flow with obvious future potential re-positioning, remixing and value-add opportunities to extract additional and ongoing value

·        Fully leased net income of $4.6 million as at 30 June 2019


All figures are approximate only

*Urbis, November 2018


Simon Rooney
Head of Retail Investments - Australia

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