East Village interior flower shop
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EAST VILLAGE

4 DEFRIES AVE, ZETLAND, NSW 2017

East Village is an award-winning mixed-use retail centre that opened in October 2014, located three kilometres south of the Sydney CBD in the rapidly densifying urban renewal area of Zetland. The centre is anchored by Coles, an Audi Service Centre and Virgin Active Health Club with over 50 specialty stores. The centre ranked 'Number 1' in Australia six years in a row (2016-2021), in Shopping Centre News Little Guns for annual turnover per square metre, and is set to benefit from strong forecast population growth in its catchment.

Classification
SUB REGIONAL
Ownership
100%
GLA
32,951 SQM

Summary information

Acquisition/Agreement Date Jul 16 (49.9%) Aug 17 (50.1%)
Last External Valuation Date 31-Dec-21
Valuation at 30-JUN-22 $327.0m
Valuer Directors Valuation
Capitalisation Rate 5.00%
Discount Rate 6.25%
Centre Mat $174.0m
Specialty Occupancy Cost 15.7%
Specialty Sales $10,253/sqm
Car Spaces 671
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: 5.5 YEARS

Major Tenants

Entity Name NLA / GLA SQM Lease Expiry
Audi Australia Retail 13,172 Oct-34
Entity Name NLA / GLA SQM Lease Expiry
Virgin Active 4,835 Nov-34
Entity Name NLA / GLA SQM Lease Expiry
Coles 4,015 Oct-34
Entity Name NLA / GLA SQM Lease Expiry
East Phoenix 1,280 Dec-26
Entity Name NLA / GLA SQM Lease Expiry
Victoria Park Montessori Academy 1,173 Dec-26
East Village interior people shopping

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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.