This article is from the Australian Property Journal archive
A STAKE in one of Australia’s largest bulky goods centre, the Gepps Cross Homemaker Centre, in Adelaide, is up for grabs.
Jones Lang LaSalle’s Simon Rooney is marketing the property and said it is a unique opportunity to acquire a 50% interest in a strong performing metropolitan homemaker centre, strategically located in Adelaide’s northern suburbs population growth corridor.
Opened in June 2009, the combined “north and south” development comprises a total GLA of 62,000 sqm set on a site area of 144,140 sqm, comprising 53 tenants anchored by the likes of Harvey Norman, Super Amart, The Good Guys, Spotlight, Toys R Us, JB Hi-Fi & Harris Scarfe, with total onsite parking for 1,695 cars.
The fully leased net income for a 50% interest in the “South” component is $3,188,500 pa as at 1 August, 2011.
Australian Property Journal
