Spectacular Elizabeth Quay retail strata units hit the market

EXPRESSIONS of Interest are being sought for five individual retail strata lots forming the ground floor of Perth’s landmark The Towers at Elizabeth Quay at 11 Barrack Street.

The Towers at Elizabeth Quay were completed in July 2019 with the retail tenancies (Lots 276, 277, 278, 279 and 280) due to open in 2020.

The sites are being marketed and sold by Ray White Commercial (WA) Property Advisors Brett Wilkins and Phil Zoiti.

Mr Wilkins said the five retail strata lots offered for sale separately or as a portfolio would be complemented by a further $2BN investment at Elizabeth Quay, including the new Australian Chevron HQ, the two towers at EQ West which recently commenced construction, and the two towers proposed by Brookfield.

“The Towers commands the dominant and prestigious location alongside the Ritz-Carlton Hotel with 205 five-star rooms and the Swan River Foreshore on the eastern edge of Elizabeth Quay, which is becoming the new heart of Perth CBD,” Mr Wilkins said.

“Tenancies here enjoy the lure of the well-connected hub for business, tourism and leisure. A new focal point for Perth, a city with one of Australia’s most stunning waterfronts.

“The five tenancies comprise The Towers Sales Office, Six Senses, Convenience Store, Argyle Bar and Lucky Necko.

“Four of the tenancies offered for sale have new 10-year leases plus options, and every high net worth buyer wanting a trophy investment really need to look no further.”

Mr Zoiti said Elizabeth Quay had restored a valuable physical and cultural connection between Perth’s city centre and the Swan River.

“Elizabeth Quay is truly the new heart of Perth. Sitting alongside the new Ritz-Carlton Hotel and the new HQ for Chevron to commence construction early 2020, and over $2BN of developments, this is as gilt-edged as it can be packaged,” Mr Zoiti said.

“The Towers and Ritz-Carlton Hotel, delivered by Far East Consortium, enjoys unparalleled, panoramic views of the Swan River, as well as high-profile exposure as a landmark in the city’s skyline.

“The Towers feature 275 luxury apartments, with the five retail tenancies on the ground floor, alongside a second tower with the Ritz-Carlton Hotel with 205 luxury rooms and 104 luxury apartments above.”

Expressions of interest close on Wednesday 13 November 2019 at 4pm (AWST).

*Approximately.