Blue-chip CBD retail space offers rare opportunity for investors

A prestigious piece of Perth retail space with global tenants has hit the market.

Located on Perth’s busiest retail strip, 223-225 and 227 Murray Street, comprises a two storey retail building with approximately 3007sqm of lettable space.

The property is being brought to market by Ray White Commercial WA director of capital markets Brett Wilkins on behalf of JJ Leach Group.

“This superbly located retail building holds a massive 30m frontage to Murray Street mall and is fully leased to international fashion retailer ZARA and iconic national retailer City Beach,” Mr Wilkins said.

“The buildings were developed in 2014 for Zara, with City Beach moving into their ground floor tenancy in the next month.

“It adjoins CarillonCity which was recently purchased by Fiveight with a major redevelopment planned.”

With a WALE of 6.78 years and an estimated net income of $2,327,640 per annum, Mr Wilkins said the property was sure to attract a lot of interest.

“The property will suit an Investor wanting an iconic, blue-chip, retail property, arguably in the epicentre of Perth CBD, and definitely at the centre of the retail heart of Perth,” he said.

“The property is located centrally in the heart of Perth’s busiest shopping precinct with significant exposure to year-round foot traffic.

“Retail tenants on this property are benefited by being a short walk from Australia’s largest fashion retailers and internationally recognised brands such as Sephora, Foot Locker, Cotton On, Myer, David Jones, H&M, and Uniqlo.”

The property is being offered for sale via expressions of interest campaign closing 9 March.

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