Neighbourhood shopping complex makes solid investment opportunity

29 May 2018

A shopping centre in the City of Playford has come to market, presenting an opportunity for investors to secure an exceptional convenience-based shopping centre.

Savills Australia’s Peter Isaksson and Rino Carpinelli have been appointed to sell the Eyre Village Shopping Centre located on the corner of Petherton and Stebonheath Road, Eyre, and said interest was expected to come from local and interstate investors.

“The Neighborhood Centre is anchored by a 20-year lease deal with Drakes Foodland and a seven year lease to Cellarbrations,” Mr Isaksson said.

Construction of the complex is part of an AV Jennings master-planned development completed in 2018, and shops have been open since February.

AV Jennings propose to continue to construct a further 2000 dwellings in the precinct.

“Leasing of the 14 specialty shops is progressing well with 85 percent of the centre leased with tenant to include an Asian take-away store, pizza and chicken shops, a hairdresser and a café, which are currently being fitted out and will be trading next month,” Mr Isaksson said.

Eyre Village has an estimated net income of approximately $1.135million per annum when the complex is fully leased, with Drakes Foodland contributing to more than 50 percent of the total revenue

The 4,107sq m centre is situated 35 kilometres north of Adelaide, with Mr Carpinelli saying the high-profile site offered two street frontages and was in an ideal location for passing traffic.

“The overall layout of the centre offers 165 car spaces and is considered to be easily accessible, with all shops receiving solid exposure to passing pedestrian traffic,” he said.

“The centre is strategically located to capture population growth in the suburb of Eyre, and aims to encourage local and neighborhood activity mulit-purpose-centres that provide a range of shopping, recreational and business facilities to the community.”

Expressions of interest close Thursday, June 21 at 4pm, and are to be submitted to the appointed agents.

Click here to learn more about Savills Retail Investments.

 
 

Key Contacts

Peter Isaksson

Peter Isaksson

Director
Capital Transactions

Savills Adelaide

+61 (0) 8 8237 5020

 

Rino Carpinelli

Rino Carpinelli

National Head - Asset Management and Managing Director - SA

Savills Adelaide

+61 (0) 8 8237 5000