Rhodes Waterside street view



Rhodes Waterside is co-located with IKEA in the significant Rhodes residential and office precinct. Major retailers include Coles, ALDI, Kmart, Bing Lee and Reading Cinemas in addition to approximately 120 specialty stores and office suites. The centre features a strong dining offering and has seen significant growth through catchment population expansion, remixing and customer-focussed initiatives.

50% Mirvac, 50% Perron
34,838 SQM

Summary information

Acquisition/Agreement Date Jan-07
Last External Valuation Date Dec-22
Valuation at 30-JUN-23 $170.5m
Valuer Directors Valuation
Capitalisation Rate 5.75%
Discount Rate 6.50%
Centre Mat $221.7m
Specialty Occupancy Cost 17%
Specialty Sales $9,654 SQM
Car Spaces 2,414
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.

Lease Expiry Profile % Income

Wale: 2.8 YEARS

Major Tenants

Entity Name NLA / GLA SQM Lease Expiry
Reading Cinemas 4,122 Mar 30
Entity Name NLA / GLA SQM Lease Expiry
Kmart 3,795 Nov 24
Entity Name NLA / GLA SQM Lease Expiry
Coles 3,497 Jun 30
Entity Name NLA / GLA SQM Lease Expiry
ALDI 1,597 Jul 33
Entity Name NLA / GLA SQM Lease Expiry
Bing Lee 1,021.5 Feb 25
Rhodes Waterside interior


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.