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Savills Research New South Wales
Quarter Times Sydney Retail Q4/2013
Savills Research | Quarter Times Quarter 4 2013
savills.com.au/research 2
Key Indicators
Sydney Enclosed Centres
Regional Sub-Regional Neighbourhood
Low High Low High Low High
Major Tenant Net Rental ($/sq m) 250 600 225 395 200 380
DDS Tenant Net Rental ($/sq m) 200 450 110 230 na na
Specialty Tenant Net Rental ($/sq m) 1,000 2,250 600 1,100 350 850
Yield - Market (%) 5.50 7.00 7.50 9.00 7.00 10.50
IRR (%) 8.50 9.25 9.25 10.00 9.00 10.75
Outgoings - Operating ($/sq m) 121 158 112 133 77 138
Outgoings - Statutory ($/sq m) 17 28 21 29 22 39
Outgoings - Total ($/sq m) 138 186 133 162 99 177
Capital Values ($/sq m)* 7,500 15,000 3,000 5,000 2,000 6,000
Source: Savills Research *stated
Sydney Retail Shops
Pitt St Mall Other CBD
Low High Low High
Net Rental ($/sq m) 4,500 13,250 500 4,000
Yield - Market (%) 5.50 6.50 5.50 8.00
Outgoings - Operating ($/sq m) 184 344 184 344
Outgoings - Statutory ($/sq m) 31 63 31 63
Outgoings - Total ($/sq m) 215 407 215 407
Capital Values ($/sq m)* 10,000 35,000 5,000 10,000
Source: Savills Research *stated
Sydney Bulky Goods
Bulky Goods
Low High
Tenant Net Rental ($/sq m) > 1,000sq m 150 450
Yield - Market (%) 8.75 12.75
IRR (%) 10.50 12.00
Outgoings - Operating ($/sq m) 13 33
Outgoings - Statutory ($/sq m) 6 18
Outgoings - Total ($/sq m) 19 51
Capital Values ($/sq m)* 1,000 2,000
Source: Savills Research *stated
Savills Research | Quarter Times Quarter 4 2013
savills.com.au/research 3
Major Sales Activity
Select Sydney Retail Enclosed Centre Sales
Date Property Price ($m) GLA (sq m) $/sq m Yield (%)
Oct-13 Oxford Square 62.70 12,088 5,187 8.00*
Nov-13 Harbourside Shopping Centre 252.00 20,022 12,586 6.90
Nov-13 Centro Seven Hills 82.50 19,502 4,230 na
Nov-13 Lake Innes Village 17.35 4,229 4,103 8.60
Nov-13 Grafton Mall 10.55 4,422 2,386 8.43
Dec-13 Carlingford Court 175.50 28,365 6,187 7.25
Source: Savills Research *equated yield na = not currently available
Select Sydney Retail Shop Sales
Date Property Price ($m) GLA (sq m) $/sq m Yield (%)
There were no sales >$5 million recorded throughout the quarter.
Source: Savills Research *equated yield
Select Sydney Retail Bulky Goods Sales
Date Property Price ($m) GLA (sq m) $/sq m Yield (%)
Nov-13 HomeBase Prospect 40.45 25,018 1,617 na
Source: Savills Research *equated yield na = not currently available
Select Sydney Retail Development Site Sales
Date Property Price ($m) Area (sq m) $/sq m Yield (%)
There were no sales >$5 million recorded throughout the quarter.
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
savills.com.au/research 4
Current Retail Construction
Current Sydney Major Centres Under Construction
Centre Suburb Type New Extension Refurb Completion
Macquarie Centre Macquarie Park City Centre 34,921 2014
Wollongong Centre Shopping Centre Wollongong City Centre 19,000 2014
Westfield Miranda Miranda Regional 17,738 2014
Bunning Rydalmere Rydalmere Bulky Goods 15,717 2014
Masters Hoxton Park Hoxton Park Bulky Goods 13,684 2014
Masters Blacktown Michinbury Bulky Goods 13,451 2014
Bunnings West Gosford Gosford Bulky Goods 13,255 2014
Super A-Mart Bankstown Bulky Goods 5,785 2014
Greystanes Shopping Centre Greystanes Neighbourhood 5,656 2014
Shopping Centre Schofields - Woolworths Schofields Freestanding 4,495 2014
Kiora Land Site Double Bay Freestanding 8,549 2015
Stockland Wetherill Park Shopping Centre Wetherill Park Neighbourhood 11,955 2015
5 Martin Pl – Commonwealth Bank Building Sydney Other 2,256 2015
Source: Cordell Reed Construction Data/Savills Research
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]
