The subject property is located in an established large format retail precinct known as "The Quadrangle" in the Edgewater/Joondalup area some 25 kilometres north of Perth and approximately 500 metres south of Hodges Drive. This area is the 4th largest large format retail precinct in Australia.
Surrounding developments include Bunnings Warehouse, Good Guys, Snooze and a variety of other major brands. The property comprises a freestanding, modern large format retail outlet, built in 2015, which occupies a prime corner site.
Tenancy and Leasing Information
The property is leased to the JB Hi-Fi Group for 12 years from 2015, with two further five year options.
Our analysis of this transaction is based upon the tenancy position at the date of sale and not on the tenancy position at the date of listing for sale.
Sale & Tenancy details
|Sale Date||July 2017|
|Vendor||The Stephens Group Pty Ltd|
|Vacancy (by area)||0.0%|
|WALE (by income)||10.37 years|
|Net Lettable Area (NLA)||1,793 m²|
|Gross Passing Income||$528,623 p.a.|
|Gross Market Income||$499,063 p.a.|
|Adopted Outgoings||$95,683 p.a.|
|Net Passing Income||$432,940 p.a.|
|Net Market Income||$403,380 p.a.|
|Passing Yield (fully leased)||5.77%|
|Gross Passing Income||$295/m²|
|Gross Market Income||$278/m²|
|Net Passing Income||$241/m²|
|Net Market Income||$225/m²|
For further details please contact:
Property Valuation & Advisory (WA)
Unit 2, 168 Stirling Highway, Nedlands WA 6009Follow Us
This analysis relies upon third party sources of information.While the resources are considered reliable, their accuracy cannot be guaranteed. We therefore accept no liability for any reliance on our analysis.