ASSET SNAPSHOT

Address The Springwood Centre Lexington Road, Springwood

Client Centuria Funds Management

Project Value $15m

CAPEX Budget $2m

MARQUETTE SCOPE

Asset Planning

Town Planning Management

Leasing Management

Fitout Project Management

Reporting

ASSET MANAGEMENT CASE STUDYTHE SPRINGWOOD CENTRE LEXINGTON ROAD, SPRINGWOOD

PROJECT DESCRIPTION

the precinct, Marquette coordinated a rezoning process

via a Material Change of Use application with Logan City

Council, which resulted in a flexible approval and access

to a wider range of target tenants.

At the same time, Marquette drove a rebranding and

CAPEX program to improve the assets appearance and

perception in the market.

Marquette drove the leasing campaign to completion

and jointly coordinated the sale campaign which lead

to a successful disposal in February 2014.

Marquette’s brief from Centuria Funds Management was to undertake a diagnostic review of the property and develop an asset and leasing plan for ultimate disposal of the asset, following a significant increase in vacancy post the GFC.

The Springwood Centre, formally Springwood Hometown, was developed as a traditional Homemaker Centre but had been stripped of many if its major tenants by competing assets throughout Springwood and Underwood.

Following a diagnostic review, which highlighted the need for a more flexible zoning given the evolution of

www.marquette.com.au