A rare and exclusive Offering

Tramsheds

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JLL is privileged to present this extraordinary opportunity to acquire Tramsheds (the‘Centre’), an iconic piece of Sydney underpinned by outstanding investment fundamentals.

Originally known as Rozelle Tramway Depot in 1904, over a century on and a dramatic renovation later, it remains a place to celebrate Sydney’s architectural history.

Tramsheds is strategically positioned in the thriving and affluent inner-city suburb of Forest Lodge, located 3km south-west of Sydney CBD. The site was part of Mirvac’s innovative Harold Park development and the adaptive reuse of the heritage tram depot has formed the ultimate award-winning1 convenience and dining destination.

Anchored by Supamart supermarket, a premium subgroup of the IGA brand, Tramsheds has a unique tenant mix which is focussed on food & beverage. The asset resonates with Sydney and draws a sizable 40% of visitation from beyond the trade area2.

This is the first time Tramsheds has been offered for sale to the market since its opening in 2016, giving investors a rare opportunity to acquire a part of Sydney’s historic past and be a part of its exciting future.

1 Best New Precinct, 2016 Concrete Playground Awards
Commendation Commercial Architecture, 2017 NSW AIA Awards
Lord Mayor’s Prize, 2017 NSW AIA Awards
National Adaptive Reuse Award, 2017 NSW
National Trust Awards Excellence in Retail Development, 2017 UDIA Awards
2 LocationIQ (May-21)

Aerial view of Tramsheds

Investment Highlights

1. Ultimate convenience and performance

Tramsheds exemplifies convenience through its strategic positioning in proximity to two of Sydney’s busiest arterial roads and adjacent positioning to Jubilee Park light rail station. The asset’s accessibility is paramount to its performance and the recent flight to convenience retailing is illustrated in Supamart’s sales performance which is up 6% YoY1. The tenant mix which provides the ultimate retail offering to capture all day trade and enhance performance.

2. One of a kind

Following an unprecedented repositioning in 2016, the curation of Tramsheds has led to the delivery of a truly unique experience, centred around food and convenience retailing. Tramsheds currently draws 40% of total trade from beyond the defined trade area2, an exceptional statistic for a centre of this size which exemplifies the significance of the asset within the Sydney retail hierarchy.

3. Outstanding supporting demographic fundamentals

Located just 3 km from the CBD, Tramsheds is located in a wealthy inner Sydney location. The catchment comprises of young affluent families and couples without children with an average per capita income 61% above the Sydney metro average2. The disposable income available in the catchment supports the performance of the asset and compliments the tenant mix – spending on food catering is 47% higher than the Sydney benchmark2.

1 Single Supermarket Based Shopping Centre – 2020.
MAT is at May-21 and excluding GST

2 Location IQ Report, May 2021

Aerial view of surround city

Location

An inner Sydney and central location of significance

Tramsheds is located in the affluent suburb of Forest Lodge, positioned alongside Jubilee Park and the Rozelle Bay foreshore, the heart of Sydney’s thriving Inner West.

The Centre is surrounded predominately by the residents of Harold Park as well as the established communities of Glebe, Annandale and Rozelle, with a number of schools and community areas within its immediate vicinity.

The ongoing renewal of the Inner West and Inner Sydney is delivering high quality housing and award-winning open spaces making it one of the most sought-after locations in Sydney and Australia.

Accessibility and connectivity:
  • Located approximately 3 km south-west of the Sydney CBD on the eastern side of Dalgal Way, easily accessed by The Crescent off the City-West Link Road, a major Sydney arterial.
  • Jubilee Park Light Rail Station is conveniently located 50 m immediately north of the Centre and connects Tramsheds to communities from Pyrmont to Dulwich Hill.
  • Bus transport is provided along The Crescent and Glebe Point Road approximately 230 m north-west and 530 m north-east of Tramsheds respectively.
Two people sitting down having a chat People in a small shop P eople walking in front of a tram
A board with an announcement Honey in jars Family sitting down for a meal Interior of a restaurant

The Asset Today

Today Tramsheds is a carefully curated mix of Australian market leading retailers, combined with key essential services that meet the demands of shopper’s daily needs. The initial concept design led to the direction of creating a European style food hall, providing the required community use and ability to not only preserve and respect the depot structure, but enabling it to be celebrated and reinvented.

Today the market style convenience-based shopping centre is home to 18 unique retailers, complementing each other perfectly. What further enhances and cements the asset is the unique aspects such as the integrated cooking schools hosted by speciality chefs, Sunday growers’ markets, and integration with the Council Community space. Tramsheds delivers a unique retailing experience like no other.

Centre plan

Centre Plan

  • Supamart T01
  • Chambers Cellars T02
  • Gelato Messina T03
  • Garçon T04
  • Fish & Co. T05
  • Gazzi T06
  • Butcher & the Farmer T07
  • China Diner T08A
  • Palle T08C
  • Bodyfit T11
  • The Depot Nail Bar T12A
  • Harold Park Medical Centre T12B
  • Vacant T13
  • Moe & Co T14
  • Bodega 1904 T15
  • Four Eggs Water T16
  • Roll’d T17
  • Osaka Trading Co. T18
  • Belles Hot Chicken T19 & T20
Trade area map

Trade Area Analysis

Location IQ has prepared an independent demographic analysis of the trade area that is serviced by Tramsheds. Below is a summary of the findings in the report; a full copy of the report is available upon request.

Tramsheds draws some 40% of visitation beyond the trade area which reached as high as 50% on weekends pre-pandemic.

  • Kmart
  • Coles
  • Foodworks
  • Sub Regional
  • Myer
  • Woolworths
  • IGA
  • Independent
  • David jones
  • Target
  • Aldi
  • uknown Supermarket

Key Drivers of Growth:

High density growth

around Parramatta Road (primary and secondary sector)

Significantly Higher Average Income Levels

Average income levels across the total trade area ($141,859) are significantly higher than the Sydney metropolitan average ($115,062).

6,150

new residents projected in the Pyrmont Peninsula as part of a 20-year Place Strategy (secondary east sector)

1,650

new dwellings in the Rozelle Investigation Area as part of the Bays West Precinct

635

new dwellings in the Petersham Investigation Area

900

new dwellings per annum in the trade area since 2011/12

*Approximate, rounded from 187,110

All information, facts and figures represented as per the LocationIQ Tramsheds demographic report.

Method of Sale

Tramsheds is being offered for sale by way of an expressions on interest campaign, closing Thursday 11th November at 2:00pm (AEDT)

Nick Willis

+61 409 595 803 [email protected]

Sam Hatcher

+61 409 899 691 [email protected]

Dylan McEvoy

+61 406 560 204 [email protected]

Due Diligence Enquiries:
Sam Linden

+61 451 464 924 [email protected]