Gladstone

Project Description

In September 2012, the Trust purchased Home Gladstone; an established Bunnings Warehouse and seven large format retail showrooms in the Gladstone suburb of Clinton, Queensland. The property was acquired from an institutional owner for $28.6m (including acquisition costs). The 5.5 hectare property is situated on the south-eastern side of the Dawson Highway approximately six kilometres south-west of Gladstone's business centre and less than a kilometre south from the Gladstone Airport. The property comprises a total lettable area of 21,511 square metres with approximately 527 car parking spaces. In addition the Bunnings, the tenants for the remaining showrooms include Harvey Norman, Pillow Talk, BCF, Betta Electrical, Eureka Street Furniture, Open House and Port City Pet World.

* Relates to Bunnings Warehouse only

Land area

54,595 m²

The total GLA/retail area

21,511 m²

Lease Commencement Date

16/2/2007 *

Total Property Cost

$28,903,019

Current valuation

$44,500,000

Annual Rent

$3,446,719

Project Location

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