Colliers and Cygnet West are excited to offer for sale Joondalup Square, an intergenerational opportunity to acquire a best-in-class trophy Large Format Retail Centre within Perth's pre-eminent LFR catchments.
Strategically located in Joondalup, 26km north of the Perth CBD, the Centre is positioned within the heart of Perth's northern growth corridor, serving as the key metropolitan hub for the northern suburbsa catchment experiencing strong population growth, with excellent connectivity and a strong, affluent customer base.
Joondalup Square is a single level open air Large Format Retail (LFR) Centre constructed in 2013, boasting a total lettable area of 13,216m² across three freestanding buildings and is serviced by a convenient at grade car park with 352 car park spaces. The Centre enjoys a strategic location that is integrated with Bunnings.
The Centre boasts a robust mix of high-profile national retailers, featuring 14 large format retail (LFR) tenants and 5 specialty stores including but not limited to Amart Furniture, Beacon Lighting, PetO, Bedshed, Kitchen Warehouse, Forty Winks, Adore Home Living, and BBQ's Galore.
Key Investment Highlights
- Secure Investment: Fully leased Large Format Retail (LFR) Centre.
- Prime Location: Located in Joondalup, 26 kilometres north of Perth CBD.
- Secure WALE: Long WALE (income) of over 6 years
- National Tenants: Over 94% of income secured by national/chain/ASX retailers
- Strong Rental Growth: Retailers feature attractive CPI or fixed annual rental reviews
- Expansive Catchment: Catchment expected to increase to 564,264 persons by 2041¹
- Value-Add Opportunity: Two tenant pre-commitments are in place for a planned 1,280m² expansion of the Centre.
Expressions of Interest closing 2.00pm (AWST) on Thursday, 26 September 2024.
¹ Location IQ
*approximate.
*Site boundaries indicative only
