Lakeside Plaza, situated in the growing Perth suburb of Byford, has been listed for sale.
Opening in December 2017, Lakeside Plaza is a 4,710sqm neighbourhood shopping centre, situated in the heart of The Glades, an award-winning master-planned residential community that will be home to 10,000 residents.
Located on the corner of Doley Road and Meade Street, on an extensive 13,312sqm site, the purpose-built centre is anchored by a 1,254sqm IGA supermarket with 19 specialty retailers, including a pharmacy, childcare centre, vet clinic and medical/dental centre.
CBRE’s Richard Cash and Anthony Del Borrello, conjunctionally with Knight Frank’s Todd Schaffer and Rick McIntosh-Whyte, have been appointed to steer the sale process via Expressions of Interest.
Mr Cash said Byford’s lifestyle appeal and population growth would underpin buyer interest.
“With planning underway to extend the Armadale train line south to Byford, connectivity and accessibility to Perth will improve significantly and ultimately underpin continued population growth, which is forecasted to increase by 4.29% per annum till 2036,” Mr Cash said.
Mr Schaffer added: “Investor demand for modern neighbourhood shopping centres remains robust, with four shopping centres having transacted and a further two currently under contract in the first half of 2019. Buyers continue to target convenience focused shopping centres in high growth catchment areas.”
Lakeside Plaza is being offered for sale via Expressions of Interest closing July 18.
Opening in December 2017, Lakeside Plaza is a 4,710sqm neighbourhood shopping centre, situated in the heart of The Glades, an award-winning master-planned residential community that will be home to 10,000 residents.
Located on the corner of Doley Road and Meade Street, on an extensive 13,312sqm site, the purpose-built centre is anchored by a 1,254sqm IGA supermarket with 19 specialty retailers, including a pharmacy, childcare centre, vet clinic and medical/dental centre.
CBRE’s Richard Cash and Anthony Del Borrello, conjunctionally with Knight Frank’s Todd Schaffer and Rick McIntosh-Whyte, have been appointed to steer the sale process via Expressions of Interest.
Mr Cash said Byford’s lifestyle appeal and population growth would underpin buyer interest.
“With planning underway to extend the Armadale train line south to Byford, connectivity and accessibility to Perth will improve significantly and ultimately underpin continued population growth, which is forecasted to increase by 4.29% per annum till 2036,” Mr Cash said.
Mr Schaffer added: “Investor demand for modern neighbourhood shopping centres remains robust, with four shopping centres having transacted and a further two currently under contract in the first half of 2019. Buyers continue to target convenience focused shopping centres in high growth catchment areas.”
Lakeside Plaza is being offered for sale via Expressions of Interest closing July 18.
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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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
