Business
6 March, 2023
Incentives on offer to get tenants into retail centre
A LANDLORD is offering up to six months free rent to entice tenants to a relatively new shopping centre at Smithfield
There are three tenancies on offer at Smithfield Shopping Village on the corner of Smithfield Village Drive and O’Brien Road at Trinity Park.
Sam Dyer of Magenta Enterprises said up to six months free rent and/or fit out incentives were available depending on lease terms.
“We are a motivated landlord and wish to keep our properties in pristine condition and occupied by successful businesses,” he said.
“We understand the pressures of operating a business in the current economic situation and we are offering this incentive to assist with the pressures of starting or expanding a business.
“Fit-out costs have considerably increased since COVID and therefore we are doing everything we can to assist our tenants.
“We have had a lot of interest in the centre, however we are looking for tenants which we feel will work well within the current tenancy mix.
“We like to always do the right thing by our tenants and we believe this starts with first impressions; by providing these incentives we are wanting to build professional and positive relationship with our tenants.”
The tenancies are shop 1-2 (124sqm), shop 3-5 (174sqm, can be divided into two of 92sqm and 82sqm) and shop 7 (163sq m).
“For the right tenant and lease terms, we are offering three months free rent for a three-year lease and six months free rent for a five- year lease,” Mr Dyer said.
“The vacant tenancies would suit anyone looking for an office, retail space or medical premises,” he said.
The centre includes a medical centre, a physiotherapist, a psychologist, a real estate agent, a hair salon, an engineer, a marketing business, four eateries and a coin-operated laundramat.
“The centre is extremely well located for customer access, convenience and parking,” Mr Dyer said.
“This modern centre has excellent exposure and full glass frontage providing 48 on-site customer car parks and is situated in the northern beaches residential growth corridor and opposite childminding centre.”
Mr Dyer said since buying the centre, Magenta Enterprises “have spent a considerable amount of time and money to bring the centre to our standard”.
“We pride ourselves on owning a well-presented centre which is maintained to the highest standards,” he said.
“Smithfield Shopping Village is fast becoming the new shopping hub in Smithfield and has a fantastic tenancy mix.
“The centre is extremely well located for customer access, convenience and parking. It was opened in late 2016 and is situated in the northern beaches’ residential growth corridor.”
The centre was developed by Richardson Plant Hire (developer John Richardson) in 2016 and Magenta, which is a family-owned self-managed superannuation fund, bought the property in April 2019. Magenta also owns industrial properties at Bungalow.
Mr Dyer said fit-out incentives could be discussed on a case by case basis by contacting Rob Macfarlane at Knight Frank Cairns on 4046 5330.
