Kawana Shopping World
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KAWANA SHOPPINGWORLD

119 POINT CARTWRIGHT DR, BUDDINA, QLD 4575

Located one hour north of Brisbane in the growing lifestyle region of the Sunshine Coast, Kawana Shoppingworld is a dominant convenience and lifestyle centre. The centre incorporates Woolworths, Coles, ALDI, Big W, six mini-majors and approximately 150 specialty stores. The centre successfully launched Event Cinemas and an expanded dining precinct in late 2018, introducing the first Gold Class theatres on the Sunshine Coast in response to significant customer demand.

Classification
SUB REGIONAL
Ownership
50% Mirvac, 50% ISPT
GLA
45,407 SQM

Summary information

Acquisition/Agreement Date Dec 93 (50%) Jun 98 (50%) Dec 17 (-50%)
Last External Valuation Date 30-Jun-22
Valuation at 30-JUN-22 $186.0m
Valuer Savills
Capitalisation Rate 5.75%
Discount Rate 6.75%
Centre Mat $324.8m
Specialty Occupancy Cost 15.5%
Specialty Sales $8,737/sqm
Car Spaces 1,990
Valuation: Book value represents Mirvac's ownership.
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.
Major Tenant: 10 year renewal agreed with Big W, lease document being finalised.

Lease Expiry Profile % Income

Wale: 3.0 YEARS

Major Tenants

Entity Name NLA / GLA SQM Lease Expiry
Big W 8,383 Jun-21
Entity Name NLA / GLA SQM Lease Expiry
Event Cinemas 5,865 Jul-34
Entity Name NLA / GLA SQM Lease Expiry
Woolworths 3,648 Nov-29
Entity Name NLA / GLA SQM Lease Expiry
Coles 3,351 Oct-27
Entity Name NLA / GLA SQM Lease Expiry
ALDI 1,753 Jul-24
Kawana Shopping world outdoor dining area

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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.