Churchill Centre South, Adelaide

Since the successful development and sale of Bunnings in 2010, the Group has continued to hold a 100% interest in the balance of the 3-hectare parcel of land. The first stage was fully let to US retailer Savers, Auto barn and Pet Barn and opened for trade in December 2014 with Beacon Lighting subsequently opening in March 2015.

The following Stage of the project comprised another 2,000 sq.m (approx.) of mixed use retail as well as a 2,000 sq.m (approximately) pad site which was pre-committed and completed in September 2015. Major tenants in this precinct include national auto mechanic chain Ultra Tune, national playcentre operator “Croc’s PlayCafe”, German power tools manufacturer Stihl and Hungry Jack’s.

One pad site adjacent to Hungry Jack’s of approximately 2,000 sq.m remains which the Group is actively marketing. The Company intends to retain ownership of its 100% share of this development to generate a stable, recurring income stream through rental income.