This trust was available to wholesale investors and contains a 7,037 sqm Kmart plus and adjoining 1,089 sqm in complementary retail space in Port Macquarie (NSW).
The property opened in late March 2017. The opening
was highly anticipated in Port Macquarie, with people queuing from 2am to be the ‘first shopper’. This anticipation proved successful financially, as Kmart Port Macquarie now holds the record for highest first day sales. Trading has continued strongly, with the first week’s trade in the top three Kmarts nationwide.
Now construction is completed, investor distributions are forecast to increase from 5.5% to 8.1%. This pro-rata increase is anticipated to be applied in the June quarter distribution.