A freestanding showroom in Joondalup has been listed for sale – presenting an outstanding opportunity for an owner occupier or investor looking to establish a footprint in Perth’s leading large format retail precinct.
CBRE’s Richard Cash and Anthony Del Borrello have been appointed to market for sale the 2,860sqm freestanding showroom property, located at 6 The Gateway, Joondalup.
Positioned on an 8,071sqm site with dual street frontage, the property is currently leased to national camping and adventure store Anaconda.
Mr Cash said the property represented a prime investment or repositioning opportunity in one of Perth’s strongest retail locations.
“This property is ideally positioned to capitalise on the strong trading conditions of the surrounding precinct, with neighbouring retailers including national brands such as Bunnings, Harvey Norman, Spotlight, The Good Guys, JB Hi Fi and Nick Scali,” Mr Cash said.
“The continuing low interest rate environment has helped sustain solid investment activity over the past 12 months, with large format retail sales increasing 9.4% to March 2018, while sharpening yields have underpinned greater investment demand for retail assets, providing a platform for sustained sales growth.”
CBRE’s Mr Del Borrello said the property’s location would be a key selling driver.
“Located only 3km from the expanding Joondalup City Centre, the property offers an attractive opportunity to surround yourself with some of the most successful retailers in Australia, while also establishing yourself in Perth’s thriving north-western corridor,” Mr Del Borrello said.
Expressions of interest close November 16 at 2:00pm (AWST).
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.