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Birkenhead Point
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BIRKENHEAD POINT BRAND OUTLET

19 ROSEBY ST, DRUMMOYNE, NSW 2047

Birkenhead Point Brand Outlet is situated five kilometres from the Sydney CBD on a prime 3.7-hectare waterfront site. The asset incorporates a premium outlet centre complemented by a small convenience-based retail offering anchored by Coles and ALDI. With over 10 mini majors and approximately 120 specialty tenancies, the centre features a range of quality brands including Armani Outlet, Bally, Coach, Michael Kors, Nike, Polo Ralph Lauren and Peter's of Kensington. The centre also incorporates approximately 3,600 square metres of bespoke office and a 5 star Gold Anchor Platinum marina with 200 berths and a fuel wharf.

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Grade
OUTLET CENTRE
Ownership
100%
GLA
33,313 SQM

Summary information

Acquisition/Agreement Date Dec-14
Last External Valuation Date Dec-22
Valuation at 30-JUN-24 $411.3m
Valuer Directors Valuation
Capitalisation Rate 5.75%
Discount Rate 7.00%
Centre Mat $334.3m
Specialty Occupancy Cost 11.7%
Specialty Sales $11,573/sqm
Car Spaces 1,346
1. Includes Marina operating business (owned by Mirvac Limited) and nearby property 64 Roseby St, Drummoyne.
2. Relates to retail component only.
3. Includes contracted COVID-19 tenant support.

Lease Expiry Profile % Income

Wale: 2.0 YEARS

Major Tenants

Entity Name NLA / GLA SQM Lease Expiry
Coles 2,692 Nov-26
Entity Name NLA / GLA SQM Lease Expiry
Spotlight 1,796 Sep-26
Entity Name NLA / GLA SQM Lease Expiry
ALDI 1,448 Nov-25
Entity Name NLA / GLA SQM Lease Expiry
Peters of Kensington 1,132 Jan-23

Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.