Kardinya Park Shopping Centre, Kardinya
$200,000 operating cost savings
Neighbourhood Shopping Centre
Pearsall Shopping Centre is a small neighbourhood centre built in 2012 on the corner of Willespie Drive and Brooklyn Avenue in Pearsall in the north east corner of Wanneroo Road and Ocean Reef Road approximately 23 kilometres north of Perth CBD.
Brett Wilkins and Stephen Harrison were able to identify a buyer from a regular marketing trip to Singapore. They understood the Singaporean’s investment criteria and then identified the property (Pearsall Shopping Centre) and negotiated the deal off-market. Anchored by an IGA tenancy the centre is well serviced with approximately 145 car bays plus on-street parking. The buyer was very happy with the deal and is already looking for more opportunities similar.
| Sales Analysis | |
| Sale Price: | $12,500,000 |
| Sale Date: | 8 May 2018 |
| Site Area: | 7,809m2 |
| Rate/m2 (building): | $4,685 |
| NLA: | 2,668m2 |
| Net Income: | $790,000 pa (estimated 1 June 2018) |
| Yield – passing: | 6.32% |
| WALE: | 10.13 years |
| Vendor: | Private investor |
| Purchaser: | Singaporean investor |
| Sale Process: | Private Invitation |
$200,000 operating cost savings
West Perth character