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