Ashfield Mall is a sub-regional shopping centre located 10 kilometres south-east of the Sydney CBD, close to the railway station and bus interchange.
The fully enclosed four level building has four anchor tenants and over 80 specialty shops. The centre’s MAT (Moving Annual Turnover) has increased to over $160 million since acquisition.
The property provides development and expansion potential following the approval for the development application for 101 apartments and 67 serviced apartments to be developed alongside a 100 place child care centre and an additional 6,500m2 of retail GFA. The building of 101 apartments and refurbishment of the main entry into the shopping centre is scheduled to begin in early 2016. Stage 2 encompassing the additional 6,500m2 of retail GFA and childcare centre is expected to commence in 2017 and the 67 serviced apartments in late 2017, early 2018.
|Valuation date||April 2016|
|Acquisition date||September 1997|
|Gross lettable area||24,661m2|
|WALE by income||5.9 years|
|Rent review stucture||CPI and Fixed|
|Major tenants by income||Woolworths, Coles, Kmart and ALDI|
|Valuation range||$150+ million|