savillsresearch quarter times perth retail q4 2013

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 shemphill@savills.com.au

Phil Harding +61 (0) 2 6221 8293 pharding@savills.com.au

Theo Dimarhos +61 (0) 2 6221 8275 tdimarhos@savills.com.au

Mitchell Thomas +61 (0) 2 6221 8294 mthomas@savills.com.au

Savills New South Wales

Research Valuations Retail Sales Metro & Regional Sales Simon Hemphill +61 (0) 2 8215 8892 shemphill@savills.com.au

Andrew Johnston +61 (0) 2 8215 8853 ajohnston@savills.com.au

Simon Fenn +61 (0) 2 8215 8888 sfenn@savills.com.au

Robert Lowe +61 (0) 2 8215 8841 rlowe@savills.com.au

Retail Leasing Retail Management Project Management Leighton Hunziker +61 (0) 2 8215 8838 lhunziker@savills.com.au

Thomas Brown +61 (0) 2 8215 8893 tbrown@savills.com.au

David Nicholas +61 (0) 2 8913 4813 dnicholas@savills.com.au

Savills Queensland

Research Valuations Retail Sales Retail Leasing Paul Day +61 (0) 7 3002 8860 pday@savills.com.au

Lawrence Devine +61 (0) 7 3002 8822 ldevine@savills.com.au

Peter Tyson +61 (0) 7 3002 8807 ptyson@savills.com.au

Garry McDowall +61 (0) 7 3002 8920 gmcdowall@savills.com.au

Retail Management Sunshine Coast Gold Coast Project Management Shane Twomey +61 (0) 7 3002 8933 stwomey@savills.com.au

Dustin Welch +61 (0) 7 5313 7519 dwelch@savills.com.au

Kevin Carmody +61 (0) 7 5592 5199 Kevin@savillsgc.com.au

Gary Finnegan +61 (0) 7 3018 6703 gfinnegan@savills.com.au

Savills South Australia

Research Valuations Retail Sales & Leasing City & Metropolitan Sales Hamish Johnston +61 (0) 8 8237 5029 hjohnston@savills.com.au

Alastair Johnston

+61 (0) 8 8237 5041 acjohnston@savills.com.au

Peter Isaksson +61 (0) 8 8237 5020 pisaksson@savills.com.au

Steve Bobridge +61 (0) 8 8237 5015 sbobridge@savills.com.au

Retail Management Project Management Jeffrey Klaebe +61 (0) 8 8237 5018 jklaebe@savills.com.au

Steve Christodoulou +61 (0) 8 8237 5004 schristodoulou@savills.com.au

Savills Victoria

Research Valuations Capital Transactions Investment Sales Glenn Lampard +61 (0) 3 8686 8034 glampard@savills.com.au

Stuart Fox +61 (0) 3 8686 8029 sfox@savills.com.au

Dominic Long +61 (0) 3 8686 8031 dlong@savills.com.au

Pat De Maria +61 (0) 3 8686 8080 pdemaria@savills.com.au

City Sales Retail Leasing Asset Management Project Management Clinton Baxter +61 (0) 3 8686 8021 cbaxter@savills.com.au

Michael Di Carlo +61 (0) 3 8686 8071 mdicarlo@savills.com.au

Egan Smith +61 (0) 3 8686 8042 esmith@savills.com.au

Chris Adam +61 (0) 3 9445 6841 cadam@savills.com.au

Savills Western Australia

Research Valuations Capital Transactions City & Metropolitan Sales Gemma Alexander +61 (0) 8 9488 4140 galexander@savills.com.au

Mark Foster-Key +61 (0) 8 9488 4145 mfosterkey@savills.com.au

Miles Rowe +61 (0)8 9488 4116 mrowe@savills.com.au

Chas Moore +61 (0) 8 9488 4155 cmoore@savills.com.au

Retail Leasing Retail Management Project Management Chris Ireland +61 (0) 8 9488 4179 cireland@savills.com.au

Mark Townsend +61 (0) 8 9488 4114 mtownsend@savills.com.au

Graham Nash +61 (0) 8 6271 0306 gnash@savills.com.au