Oasis Shopping Centre

Broadbeach, Gold Coast QLD

Oasis Shopping Centre is a three-level sub-regional shopping mall at the centre of Broadbeach, Queensland, on the Gold Coast.

The property is in the heart of Broadbeach, a popular tourist destination for Australian and international travellers. Within walking distance to the beach and landmarks including the Gold Coast Convention Centre and Jupiter’s Hotel and Casino, Oasis caters to both Broadbeach residents and visitors, experiencing approximately 6.8 million visitors a year.

The property is the main enclosed shopping centre in Broadbeach and is anchored by Woolworths Supermarket and a large ALH run tavern plus a range of mini-majors and over 110 specialty stores. The centre has undergone multiple refurbishment programs since July 2015 and some projects are now completed. The centre has finished projects in its north west corner which has expanded the ground floor footprint, enhance the centre’s external facade and added a CBA tenancy and additional restaurants. The reconfiguration and refurbishment of the centre’s commercial office area on level 2 has provided over 2,160sqm for an Allianz call centre. The projects for refurbishing the existing restaurant precinct facing Broadbeach Mall are completed and all of restaurant tenancies are leased up. The removal of Monorail track and bridging has also been completed which potentially provides an additional 4,000sqm of NLA. The asset strategy provides further projects including the refurbishing and renewal of existing tenancies on levels 1 and 2 in line with a new mini major - Cotton On, which is due to commence in November 2017.

This property is held in joint venture with global investment firm KKR.

Ownership interest 40%
Cap rate 7.25%
Valuation date March 2017
Acquisition date March 2015
Site area 21,160m2
Gross lettable area 22,839m2
Occupancy 89%
WALE by income 3.9 years
Rent review stucture CPI and Fixed
Major tenants by income Woolworths, BWS, Broadbeach Tavern and My Fitness
Parking spaces 998
Valuation range $20-30 million (equity ownership)