Coles anchored “Casuarina Village” neighbourhood shopping centre on the Tweed Coast, in northern New South Wales has been placed on the market for sale.
Savills’ retail specialists Peter Tyson and Jon Tyson have been appointed to manage the sale process.
The 3,978sqm centre occupies a town-centre location in the master-planned beach-side Casuarina community, which is a short drive from the Gold Coast Airport and the new $723 million 430-bed Tweed Valley Hospital. The Centre is anchored by a Coles Supermarket plus 14 specialty tenancies with parking for 236 cars and features expansion potential.
Savills’ Peter Tyson commented, “Casuarina Village is expected to attract strong interest from a cross-section of buyer groups given the resilience of the low-risk daily-needs based neighbourhood centre asset class. The Centre features expansion and value-add potential with existing approval to add up to 1,082 square metres of additional floor space.”
“Casuarina is situated in a major population growth area on the Tweed Coast just south of the Gold Coast. The region is experiencing massive ongoing residential growth, including the nearby approved Kings Forest master-planned community, which is approved for around 4,500 new homes, and will be bolstered with significant boost to jobs when the new Tweed Valley Hospital opens in late 2023.”
Jon Tyson added “The Casuarina trade area is dominated by young family households and is forecast to grow over 45% by 2041 driving retail expenditure to over $890 million over the same period. These fundamentals underwrite strong, long-term local demand for “daily needs” food, medical and retail services.”
Expressions of Interest close Thursday 2nd March 2023.
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