FRP Brickworks Marketplace 2 Page Summary - July 2023 - Flipbook - Page 2
frpcapital.com.au
Brickworks Marketplace
— Presented by FRP Capital
Brickworks Marketplace
Shopping Centre is a vibrant,
contemporary neighbourhood
shopping centre home to
over 50 tenancies.
The centre was constructed in 2015 with
a design that embraces the heritage-listed
“J Hallett & Sons Brick Making Kiln” and
its landmark chimney.
The total catchment area of the centre is
an estimated 80,000 people, with
15% being families, and an average
household income of $82,451. The centre
is situated on a corner allotment along
one of South Australia’s most important
transport corridors, identified for
improvement in the State Government’s
30-Year Plan for Greater Adelaide.
Adelaide CBD
Adelaide Crows
Brickworks
proposed headquarters
Marketplace
North-South corridor
The‘Kiln’
The centre is also adjacent to a 9hectare site that the Adelaide Crows
have proposed as their new headquarters,
as part of the Thebarton Oval Precinct
Masterplan.
ASSET
GROWTH
STRATEGY
FRP’s Asset Growth Strategy for Brickworks
Marketplace is designed to increase the internal
rate of return and maximise long-term capital value.
Leasing Strategy
Tenant Remixing
Positive Rental Increase
Reduce Operating Expenses
FRP’s in-house leasing team have
formed strong relationships with
tenants and the retail leasing
market to ensure the right tenant
mix and provide income security
for the Asset.
There is additional opportunity at
the centre for tenant remixing to
stay up-to-date with retail trends
and customer preferences.
Many of the existing tenants
have a lower than market rent,
enabling positive rental uplift
upon expiry via renegotiation
or replacing the tenant.
There is potential for FRP to reduce
the current outgoings through
retender and the use of the in-house
property management team. These
savings will assist with increasing
the net income position.
Percentage Rent
Development Potential
Solar Implementation
Capital Expenditure
An annual 2% increase for both
Woolworths and Dan Murphy’s
will have them paying percentage
rent by year 4 and 6 respectively.
The Centre is located on a large
4.44Ha site, offering plenty of
development opportunities.
There is opportunity to maximise
solar energy at the centre, with
most of the roof currently being
under-utilised.
Due to the centre being constructed
in 2015, there is minimal capital
expenditure required for the Asset.
1300 273 327
investors@frpcapital.com.au
frpcapital.com.au
The Trustee has appointed FRP Capital Pty Ltd
ACN 643 942 116 as the investment manager of the Fund.
The manager is an authorised representative of Commercial & Legal
Securities Pty Ltd ACN 645 981 344, holder of AFSL License #538004
