Major investment opportunities in the Northern Territory are rare and the geographic constraints define the investor pool. Further highlighting current market demand for convenience focused, essential services retail, Bakewell Shopping Centre attracted significant enquiry focused on the strong performance of the supermarket, limited specialty exposure and recent construction.

The process attracted 5 formal EOIs from a mix of private investors, syndicators and the ultimate purchaser, an ASX listed REIT.

At a glance:

• Sale Price: $33m AUD
• Net passing income: $2,253,588
• Fully leased net income: $2,425,785
• Adopted outgoings ($/sqm):  $67.87
• Net passing initial yield: 6.83%
• Fully leased initial yield: 7.35%
• Rate / sqm of GLA: $5,151 
• Rate / sqm of Site Area: $1,491
• WALE (by GLA): 8.29 years
• WALE (by Income): 7.16 years

Click here to view sales analysis.

Purchaser introduced and transaction negotiated by Jacob Swan, Sam Hatcher and Nick Willis, JLL. 

Bakewell Shopping Centre is a 6,407 sqm convenience based neighbourhood shopping centre, anchored by a full line Woolworths Supermarket (4,854 sqm* including BWS), together with 10 complimentary tenants, an ATM and kiosk.

The Centre is strategically located in the high-growth corridor of Palmerston, a satellite city to Darwin, Bakewell is 2 km* south of Palmerston City Centre and 25 km* south- east of the Darwin Central Business District.

Click here to view sales analysis.

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