Joondalup Gate 57 Joondalup Drive Edgewater WA 6027

JLL and Colliers proudly present to the market Joondalup Gate, a premier large format retail centre situated in Perth's bustling northern suburbs. 57 Joondalup Drive, Edgewater, WA.

This strategic asset offers a prime location, robust financial performance, and significant growth potential in one of Australia's fastest-growing regions. Joondalup Gate is ideally positioned in Edgewater, Western Australia, just 24 km north of Perth CBD and 4 km south of Joondalup CBD.

Joondalup Gate boasts an impressive GLA of 24,682 sqm* and the centre is anchored by leading national retailers including BCF, Dan Murphy's, AMX Superstores, Revo Fitness, Freedom Furniture, and Early Settler.

With an estimated fully leased net income of $5.6 million per annum*, Joondalup Gate represents a compelling investment opportunity.

Investment Highlights:
• Secure Investment: Fully leased Premium Large Format Retail (LFR) Centre.
• Landholding of Scale: 64,115 sqm* strategically positioned within the Joondalup Activity Centre. Zoning supports high-density mixed-use development with a minimum 20.5m development height and no prescribed maximum height limit.
• GLA: 24,682 sqm*.
• Dominant LFR Offering Secured by National Tenants: 67% of gross income secured by leading national retailers such as BCF, Dan Murphy's, AMX Superstores, Revo Fitness, Freedom Furniture, and Early Settler.
• Fully Leased Net Income: $5,618,000 per annum1.
• Strong LFR Spending Catchment: Projected to grow at an average rate of 3.2% per annum over the next two decades.
• Strong Rental Growth Outlook: Driven by a low average passing rent of $292/sqm pa gross.
• Significant Value-Add Opportunity: The site includes 6,210 sqm surplus land with frontage to Joondalup Drive and adjacent to Edgewater Train Station, offering potential for additional LFR or high-density mixed-use development (STCA).
• Thriving growth catchment: servicing a total trade area population of 452,964 persons, with a Main Trade Area average household income 7.1% above the Perth metro average2.
• Excellent Tenant Retention: Boasting an impressive average tenant tenure of 7.8 years1 rising to an average of 11.1 years1 based on the current lease expiry profile.

Offered for sale via Expressions of Interest closing on Tuesday, 25th March 2025 at 2:00pm (AWST).

*All figures are approximate.
1 Estimated as at 1 July 2025.
2 Trade area data as per LocationIQ, Joondalup Gate, February 2025.
^ Property boundary outline indicative only.
STCA Subject to Council Approval