Perth, 18 February 2013 – The South Lake Shopping Centre will soon hit the market, in a move tipped to attract significant investor interest.
The established retail centre comprises 3,107.2qm of gross lettable areas, and is anchored by a Metcash IGA Supermarket. Other retail tenancies include a freestanding United Petroleum service station, a Muzz Buzz drive through and 11 smaller specialty tenants. The site also includes 218 parking bays.
CBRE and Colliers have been appointed to steer the marketing campaign for the centre on behalf of vendor Baler Pty Ltd – a syndicate managed by Security Capital Corporation and Property Bank Australia.
CBRE’S Peter Agostino said the centre represented an outstanding investment opportunity.
“With a WALE of 6.5 years and excellent exposure to Berrigan and South Lake Drives, the property will be of significant appeal to private investors and syndicates in the sub AU$10 million market,” Mr Agostino said.
Colliers’ Mark Werrett said the centre benefitted from a strong location within a growing catchment area.
“The surrounding Trade Area population is approximately 8,000 and is expected to reach 9,760 by 2021. An additional 2500 new dwellings are also expected for the area by 2030,” Mr Werrett said.
South Lake Shopping Centre is for sale via Expressions of Interest closing 27th March 2013.
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