savillsresearch quarter times perth retail q4 2013
TRANSCRIPT
Savills Research Western Australia
Quarter Times Perth Retail Q4/2013
Savills Research | Quarter Times Quarter 4 2013
savills.com.au/research 2
Key Market Indicators
Perth Enclosed Centres
Regional Sub-Regional Neighbourhood
Low High Low High Low High
Major Tenant Net Rental ($/sq m) 160 230 150 220 135 155
DDS Tenant Net Rental ($/sq m) 160 230 150 220 na na
Specialty Tenant Net Rental ($/sq m) 1,050 1,650 600 1,150 420 740
Yield - Market (%) 6.50 7.25 7.50 8.50 7.25 9.50
IRR (%) 8.75 9.25 9.00 10.00 9.50 10.50
Outgoings - Operating ($/sq m) 80 125 75 120 42 90
Outgoings - Statutory ($/sq m) 40 50 35 40 20 40
Outgoings - Total ($/sq m) 120 175 110 160 62 130
Capital Values ($/sq m) 4,500 9,200 2,700 5,200 1,550 2,600
Source: Savills Research
Perth Shops
Hay St Mall Other CBD Shopping Strip
Low High Low High Low High
Net Rental ($/sq m) 2,300 5,000 650 2,600 400 1,500
Yield - Market (%) 7.25 8.50 7.50 9.00 7.00 9.00
Outgoings - Operating ($/sq m) 110 280 120 170 50 65
Outgoings - Statutory ($/sq m) 50 140 45 80 25 35
Outgoings - Total ($/sq m) 160 420 165 250 75 100
Capital Values ($/sq m) 5,200 7,500 4,200 7,000 4,000 6,500
Source: Savills Research
Perth Bulky Goods
Bulky Goods
Low High
Tenant Net Rental ($/sq m) > 1,000sq m 170 270
Yield - Market (%) 8.50 11.00
IRR (%) 9.00 12.00
Outgoings - Operating ($/sq m) 35 55
Outgoings - Statutory ($/sq m) 25 35
Outgoings - Total ($/sq m) 60 90
Capital Values ($/sq m) 1,900 3,000
Source: Savills Research
Savills Research | Quarter Times Quarter 4 2013
This information is general information only and is subject to change without notice. No representations or warranties of any nature whatsoever are given, intended or implied. Savills will not be liable for any omissions or errors. Savills will not be liable, including for negligence, for any direct, indirect, special, incidental or consequential losses or damages arising out of our in any way connected with use of any of this information. This information does not form part of or constitute an offer or contract. You should rely on your own enquiries about the accuracy of any information or materials. All images are only for illustrative purposes. This information must not be copied, reproduced or distributed without the prior written consent of Savills. ©Savills 2014
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Major Sales Activity
Select Perth Retail Enclosed Centre Sales
Date Property Price ($m) GLA (sq m) $/sq m Yield (%)
Oct-13 Harbour Town, West Perth 205.00 21,238 9,653 5.85
Oct-13 Bunbury Forum Shopping Centre, Bunbury 137.08 21,384 6,410 na
Oct-13 South Lake Shopping Centre, South Lake 6.80 3,107 2,189 10.27
Nov-13 Brighton Village Shopping Centre, Butler 21.00 3,846 5,460 7.90
Nov-13 Atwell Arcade, Fremantle 8.29 2,678 3,096 8.63
Source: Savills Research
Select Perth Retail Shop Sales
Date Property Price ($m) GLA (sq m) ($/sq m) Yield (%)
Dec-13 East End Village, West Perth 8.35 920 9,076 4.25
Source: Savills Research
Select Perth Retail Bulky Goods Sales
Date Property Price ($m) GLA (sq m) ($/sq m) Yield (%)
There were no significant bulky goods sales recorded during the quarter.
Source: Savills Research
Select Perth Retail Development Site Sales
Date Property Price ($m) GLA (sq m) ($/sq m) Yield (%)
There were no significant development site sales recorded during the quarter.
Source: Savills Research
Current Retail Construction
Major Centres Currently Under Construction
Centre Suburb Type New Extension Refurb Completion
Wyatt Grove Shopping Centre Hocking Neighbourhood 5,000 Feb-14
Bassendean Village Bassendean Neighbourhood 2,902 Jun-14
Eaton Fair Shopping Centre Eaton Sub Regional 15,500 Oct-14
Lakeside Joondalup Joondalup Regional 28,300 Nov-14
Carillon City Perth City Centre 2,264 Nov-14
Cockburn Gateway SC Success Sub Regional 20,600 Dec-14
Centro Warnbro Rockingham Neighbourhood 9,486 Dec-14
Beeliar Village Shopping Centre Beeliar Neighbourhood 3,800 May-15
Pinjarra Junction SC Pinjarra Neighbourhood 5,492 Feb-16
Wellard Square Shopping Centre Wellard Neighbourhood 6,285 Jun-16
Source: Savills Research/Cordells
Savills Research | Quarter Times Quarter 4 2013
Savills Australian Capital Territory
Research Valuations Sales & Leasing Project Management Simon Hemphill +61 (0) 2 8215 8892 [email protected]
Phil Harding +61 (0) 2 6221 8293 [email protected]
Theo Dimarhos +61 (0) 2 6221 8275 [email protected]
Mitchell Thomas +61 (0) 2 6221 8294 [email protected]
Savills New South Wales
Research Valuations Retail Sales Metro & Regional Sales Simon Hemphill +61 (0) 2 8215 8892 [email protected]
Andrew Johnston +61 (0) 2 8215 8853 [email protected]
Simon Fenn +61 (0) 2 8215 8888 [email protected]
Robert Lowe +61 (0) 2 8215 8841 [email protected]
Retail Leasing Retail Management Project Management Leighton Hunziker +61 (0) 2 8215 8838 [email protected]
Thomas Brown +61 (0) 2 8215 8893 [email protected]
David Nicholas +61 (0) 2 8913 4813 [email protected]
Savills Queensland
Research Valuations Retail Sales Retail Leasing Paul Day +61 (0) 7 3002 8860 [email protected]
Lawrence Devine +61 (0) 7 3002 8822 [email protected]
Peter Tyson +61 (0) 7 3002 8807 [email protected]
Garry McDowall +61 (0) 7 3002 8920 [email protected]
Retail Management Sunshine Coast Gold Coast Project Management Shane Twomey +61 (0) 7 3002 8933 [email protected]
Dustin Welch +61 (0) 7 5313 7519 [email protected]
Kevin Carmody +61 (0) 7 5592 5199 [email protected]
Gary Finnegan +61 (0) 7 3018 6703 [email protected]
Savills South Australia
Research Valuations Retail Sales & Leasing City & Metropolitan Sales Hamish Johnston +61 (0) 8 8237 5029 [email protected]
Alastair Johnston
+61 (0) 8 8237 5041 [email protected]
Peter Isaksson +61 (0) 8 8237 5020 [email protected]
Steve Bobridge +61 (0) 8 8237 5015 [email protected]
Retail Management Project Management Jeffrey Klaebe +61 (0) 8 8237 5018 [email protected]
Steve Christodoulou +61 (0) 8 8237 5004 [email protected]
Savills Victoria
Research Valuations Capital Transactions Investment Sales Glenn Lampard +61 (0) 3 8686 8034 [email protected]
Stuart Fox +61 (0) 3 8686 8029 [email protected]
Dominic Long +61 (0) 3 8686 8031 [email protected]
Pat De Maria +61 (0) 3 8686 8080 [email protected]
City Sales Retail Leasing Asset Management Project Management Clinton Baxter +61 (0) 3 8686 8021 [email protected]
Michael Di Carlo +61 (0) 3 8686 8071 [email protected]
Egan Smith +61 (0) 3 8686 8042 [email protected]
Chris Adam +61 (0) 3 9445 6841 [email protected]
Savills Western Australia
Research Valuations Capital Transactions City & Metropolitan Sales Gemma Alexander +61 (0) 8 9488 4140 [email protected]
Mark Foster-Key +61 (0) 8 9488 4145 [email protected]
Miles Rowe +61 (0)8 9488 4116 [email protected]
Chas Moore +61 (0) 8 9488 4155 [email protected]
Retail Leasing Retail Management Project Management Chris Ireland +61 (0) 8 9488 4179 [email protected]
Mark Townsend +61 (0) 8 9488 4114 [email protected]
Graham Nash +61 (0) 8 6271 0306 [email protected]