Elanor Retail Property Fund
Northway Plaza Shopping Centre
Northway Plaza is single level neighbourhood shopping centre located in Bundaberg, Queensland.
Northway Plaza is anchored by a full-line Supa IGA supermarket (guaranteed by Metcash and leased to Cornetts who operate 33 IGA stores across Queensland) supported by 12 specialty tenants focused on Non-Discretionary goods and services.
The site includes approximately 5,000 m2 of vacant developable land across three pad sites.
The current occupancy of Northway Plaza is 98.1% by area, with nominated vacancies being covered by a Rental Guarantee, held in trust, until November 2018 which equates to $0.04m p.a. Refer to Section 14.11 for further detail on the Rental Guarantee.