Churchill Centre North Investment Trust 1
ICAM acquired 50% of this shopping centre, located 7km from the Adelaide CBD in February 2018 and it is performing very well for our investors.
(50% stake)
6.5-7%
Target Income Yield
(Average over 5 years)
(Excluding development upside)
Churchill Centre North is a modern sub-regional shopping centre featuring Adelaide’s only Costco, one of South Australia’s best performing Coles supermarkets as well as Kmart, TK Maxx and Aldi as major tenants together with a wide mix of non-discretionary retailers and significant surplus land offering further development potential.
Our Centre’s performance has been strong with turnover increasing 13% Y-o-Y, with further growth forecast as the catchment area continues to expand.
Investment Highlights
Anchored by a quality global and national tenant mix including Adelaide’s only Costco in addition to Coles, Kmart, TK Maxx & Aldi
6.2-year WALE
98% Occupancy
Significant upside with c.10,000sqm of surplus land with potential for future development
Prime location only 7km from the Adelaide
