Birkenhead Point
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BIRKENHEAD POINT BRAND OUTLET

19 ROSEBY ST, DRUMMOYNE, NSW 2047

Birkenhead Point Brand Outlet is situated five kilometres from the Sydney CBD on a prime 3.7-hectare waterfront site. The asset incorporates a premium outlet centre complemented by a convenience-based retail offering anchored by Coles and ALDI, with over 10 mini majors and approximately 120 specialty tenancies. The centre features a range of quality brands including Armani, Bally, Coach, Michael Kors, Nike, Polo Ralph Lauren and Peter's of Kensington. The centre also incorporates approximately 3,600 square metres of commercial office suites and a marina with approximately 200 berths.

Classification
OUTLET CENTRE
Ownership
100%
GLA
33,200 SQM

Summary information

Acquisition/Agreement Date Dec-14
Last External Valuation Date 30-Jun-21
Valuation at 30-JUN-22 $401.7m
Valuer Directors Valuation
Capitalisation Rate 5.50%
Discount Rate 6.50%
Centre Mat $232.3m
Specialty Occupancy Cost 15.6%
Specialty Sales $9,704/sqm
Car Spaces 1,351
Valuation: Includes Marina operating business (owned by Mirvac Limited) and nearby property 64 Roseby St, Drummoyne.
Capitalisation and discount rate: Relates to retail component only.
Specialty occupancy costs: Includes contracted COVID-19 tenant support. | Specialty sales: In line with SCCA guidelines, adjusted for tenant closures during COVID-19 impacted period.

Lease Expiry Profile % Income

Wale: 1.6 YEARS

Major Tenants

Entity Name NLA / GLA SQM Lease Expiry
Coles 2,692 Nov-26
Entity Name NLA / GLA SQM Lease Expiry
Spotlight 1,796 Sep-26
Entity Name NLA / GLA SQM Lease Expiry
ALDI 1,448 Nov-25
Entity Name NLA / GLA SQM Lease Expiry
Peter's of Kensington 1,132 Jan-23

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Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.