savills brisbane retail q1 2013
DESCRIPTION
BrisbaneTRANSCRIPT
Savills Research Queensland
Quarter Times
Brisbane Retail Q1/2013
Savills Research | Quarter Times Quarter 1 2013
savills.com.au/research 1
Key Market Indicators
Brisbane Enclosed Centres
Regional Sub Regional Neighbourhood
Low High Low High Low High
Major Tenant Gross Rental ($/ sq m) 300 450 300 450 300 450
DDS Tenant Gross Rental ($/sq m) 200 250 200 250 na na
Specialty Tenant Net Rental ($/sq m) 900 1,800 600 1,100 400 800
Yield - Market (%) 5.75 6.00 7.50 9.25 7.50 10.00
IRR (%) 8.75 9.50 9.25 10.50 9.25 11.00
Outgoings Operating ($/sq m) 150 200 70 135 35 70
Outgoings - Statutory ($/sq m) 30 50 20 35 30 30
Outgoings - Total ($/sq m) 180 250 90 170 65 100
Capital Values ($/ sq m) 6,600 10,000 3,000 4,800 2,500 4,200
Source: Savills Research,
Brisbane Shops
Queen St Mall Other CBD Shopping Strip
Low High Low High Low High
Net Rental ($/sq m) 2,700 7,000 750 1,700 300 800
Yield – Market (%) 5.50 7.50 6.50 8.25 7.25 9.00
Outgoings Operating ($/sq m) 80 160 80 160 30 50
Outgoings - Statutory ($/sq m) 120 240 80 160 20 20
Outgoings - Total ($/sq m) 200 400 160 320 50 70
Capital Values ($/sq m) 50,000 95,000 9,000 27,000 2,500 7,000
Source: Savills Research.
Brisbane Bulky Goods
Bulky Goods
Low High
Tenant Gross Rental ($/sq m) > 1,000 sq m 150 250
Yield – Market (%) 8.50 11.50
IRR 9.75 10.75
Outgoings Operating ($/sq m) 15 30
Outgoings - Statutory ($/sq m) 10 30
Outgoings - Total ($/sq m) 35 60
Capital Values ($/sq m) 1,400 2,800
Source: Savills Research.
Savills Research | Quarter Times Quarter 1 2013
This information is general information only and is subject to change without notice. No representations or warranties of any nature whatsoever are given, intended or implied. Savills will not be liable for any omissions or errors. Savills will not be liable, including for negligence, for any direct, indirect, special, incidental or consequential losses or damages arising out of our in any way connected with use of any of this information. This information does not form part of or constitute an offer or contract. You should rely on your own enquiries about the accuracy of any information or materials. All images are only for illustrative purposes. This information must not be copied, reproduced or distributed without the prior written consent of Savills. ©Savills 2012
savills.com.au/research 2
Major Sales Activity
Select Queensland Shopping Centre Sales
Date Property Price ($m)
GLA (sq m)
$/sq m Yield (%)
Jan-13 Home HQ Ipswich 23.50 12,903 1,821 10.36
Jan-13 Retail Shop - 126 Leichardt Street, Spring Hill 2.03 365 5,548 6.42
Feb-13 Village Square Town Centre, Browns Plains 27.00 12,325 2,191 9.62
Feb-13 224 Nicklin Way & 1 Waterview Street, Warana 8.90 4,255 2,092 9.34
Feb-13 Retail Strata - 26 Felix Street, Brisbane 7.60 590 12,881 7.50
Source: Savills Research, Dev–development site, 1Bulky Goods, *Equated Market Yield. na –not currently available
Current Retail Construction
Major Centres Currently Under Construction
Centre Suburb Type New Extension Refurb Completion
Woolworths – Morayfield Morayfield Neighbourhood 5,000 Apr-13
Harvey Norman Centre Emerald Bulky Goods 8,660 Apr-13
Coles - Ipswich Ipswich Freestanding 5,990 May-13
Aldi Oxenford Freestanding May-13
Aldi Nambour Freestanding 1,527 Jun-13
Coles - Nambour Nambour Neighbourhood 5,990 Jul-13
Masters Toowoomba Kearneys Springs Bulky Goods 13,310 Aug-13
Drayton Shopping Centre Drayton Neighbourhood 5,302 Aug-13
Capri on Via Roma Gold Coast Themed 8,000 Sep-13
Coles - Taigum Village Taigum Neighbourhood 9,311 Sep-13
Greenwood Estate Shopping Centre
Kirwan Neighbourhood na Sep-13
Northpoint Toowoomba Toowomba Neighbourhood 17,430 Dec-13
Big Top Shopping Centre Maroochydore Neighbourhood 12,189 Mar-14
Indooroopilly Shopping Centre Indooroopilly Major Regional 30,000 May-14
Source: Cordell Reed Construction Data/Savills Research. na – not currently available
Savills Research | Quarter Times Quarter 1 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]
Alison Majdandzic +61 (0) 2 6221 8291 [email protected]
Ken Mullins +61 (0) 2 6221 8294 [email protected]
Savills New South Wales
Research Valuations Capital Transactions Retail Sales Simon Hemphill +61 (0) 2 8215 8892 [email protected]
Andrew Johnston +61 (0) 2 8215 8853 [email protected]
Ian Heatherington +61 (0) 2 8215 8925 [email protected]
Simon Muirhead +61 (0) 2 8215 8825 [email protected]
Metro & Regional Sales Retail Leasing Retail Management Project Management Robert Lowe +61 (0) 2 8215 8841 [email protected]
Leighton Hunziker +61 (0) 2 8215 8838 [email protected]
Thomas Brown +61 (0) 2 8215 8888 [email protected]
Phill Andrew +61 (0) 2 8215 8922 [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 Murray Scanlan +61 (0) 7 3002 8901 [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 3002 8703 [email protected]
Savills South Australia
Research Valuations Capital Transactions City & Metropolitan Sales Hamish Johnston +61 (0) 8 8237 5029 [email protected]
Addrian Rowse +61 (0) 8 8237 5034 [email protected]
Peter Isaksson +61 (0) 8 8237 5020 [email protected]
Steve Bobridge +61 (0) 8 8237 5015 [email protected]
Retail Leasing Retail Management Project Management Nadia Gentilcore +61 (0) 8 8237 5013 [email protected]
Tony Bruno +61 (0) 8 8237 5021 [email protected]
Steve Christodoulou +61 (0) 8 8237 5004 [email protected]
Savills Victoria
Research - National Research - VIC Valuations Capital Transactions Tony Crabb +61 (0) 3 8686 8012 [email protected]
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]
Investment Sales Retail Leasing Asset Management Project Management Pat De Maria +61 (0) 3 8686 8080
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]