Hampton Park Shopping Centre
Since our inception, Hampton Park Shopping Centre has been a busy place. Now we offer new shops, toilets for women and men as well as a baby changing area. Our new landscape gardening is complemented by modern LED lighting.
Why not stop by and check out our new shops: Australia Post and Tattslotto. Also, Sugar Buns Bakery Cafe, Donut King and Lucy’s coffee shop. While you are there, grab some fresh meat from your local butcher, Lee Lee bakery bread, Woolworths groceries, and liquor from BWS. You need something quick? Mimo’s Pizza and Red Rooster are great options. For a special chocolate arrangement, drop by the Chocolate Garden. For weddings, communication, or birthday cakes from Lucy’s divine cakes, take a look at Raj Hair Dresser. Health & Therapy is available for pampering.
Hampton Park Shopping Centre is one of the most important commercial centres in the region. It houses more than 50 specialty and major retail outlets, including Woolworths and Red Rooster. Donut King, Australia Post and banks. The shopping center offers ample parking and a relaxing setting.
The Hampton Park Shopping Centre is located in the heart of Hampton Park. It is located 36 km south-east Melbourne’s central business area. The centre has convenient traffic connections and easy access to the train station.
Through intensive management and further development, the retail center project has significant value-add potential.
Hampton Park Shopping Square, located on Hallam Road is a bustling neighbourhood shopping centre that has a rich trading history. National tenants include Woolworths, Domino’s and Subway as well as Australia Post, CBA. Priceline, Cheesecake shop, and many other specialty shops.
Three street frontages lead to the retail precinct: Stuart Avenue, Somerville Roads, Hallam Road. It is located close to Pound Road, South Gippsland Freeway. Hampton Park Shopping Square also offers ample parking, with more than 400 spaces. There are vacancies in areas from 80 to 285m2.
Start-up Business Incentives
Flexible uses Food and Beverage, Office, Small Business
– Centre for high volume activity
– The Centre is a long-standing, successful small business owner/operators.
A $25.6 million investment by an overseas investor was made to purchase a shopping center in Melbourne’s outer east that has no anchor tenant.
After an expressions-of-interest campaign that attracted more than 80 inquiries and ten offers, the Hampton Park Shopping Square was sold for 6.55 percent.
This centre covers 7011 square metres and was built in 1997. It houses 51 shops and six offices. The centre also adjoins two other centres that are anchored by Woolworths and Coles supermarkets. They form the main retail precinct of the suburb.
It is located on a 2.74-hectare site at 162-166 Somerville Road, Hampton Park, 36 km from the CBD. It is just east of the South Gippsland Highway intersection. There are 415 spaces available and there is potential for further development.
Stuart Taylor, JLL Retail Investments Manager, said that the strong response to the deal was a testament to the strength of the neighbourhood shopping centre market and buyers’ willingness to take on more risk.
Taylor stated that it was an exceptional result because it only has shops and no large supermarket as anchor.
In the last 18 months, fierce competition has resulted in lower yields for investors who are looking to invest in neighbourhood shopping centres. The centres are anchored by convenience-based food shopping, and other services. They provide a steady income that is almost immune to the fluctuations of discretionary transactions.
The Australian Bureau of Statistics data indicates that retail turnover increased by 5.7% in the 12 month period to February 2015, and another 0.5% in April.
JLL research has shown that neighbourhood shopping centre yields have fallen by 62 basis points to an average yield of 7.2% in the twelve months to the 2015 March quarter. They are now between 6.5 to 7.75 percent, down from 6.75 to 8% a year ago.
Fund manager Haben Property paid just under $40 million earlier this month for the Croydon Central shopping center in Melbourne’s eastern suburbs. The yield was estimated to be below 6 percent.
A local investor bought the Sunshine Plaza shopping center in May for $35.1 million. It was a mortgagee-in-possession sale that yielded 9%.
Queensland Investment Corporation paid $26.05 Million for Coburns Central, an outer western suburb of Melton. Maroondah Village was $13.3 million with a 5.8% yield.
Lyttleton Terrace shopping center, which is located in the middle of Bendigo, will be the next centre offered to the market.
Justin Dowers and Mark Wizel, CBRE agents, expect to receive around $20 million for the centre of 4800 square metres. The center is anchored by a Coles supermarket with a 5-year lease.
The current net income exceeds $1.16million. Recent interest in neighbourhood shopping centers has grown from local institutions to investors and funds to offshore investors.
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