A newly constructed, strategically positioned neighbourhood shopping centre anchored by a high-performing Woolworths supermarket located 35 kilometres north of Perth CBD is being brought to market.
The brand new 6,466m2 Woolworths Clarkson Shopping Centre is anchored by a modern, 4,207m2 Woolworths supermarket and is supported by The Reject Shop, Revo Fitness, Pharmacy, a Kiosk and five other specialty tenants.
Occupying a strategic 26,604m2 corner site adjacent to Ocean Keys Shopping Centre, the centre offers 312 on-grade car parking spaces and an ultra-convenient new Direct to Boot service.
The site benefits from a long WALE of 8.78 years by GLA and 8.14 years by income, with Woolworths securing 65% of GLA and 58% of gross income.
Considerable infrastructure investment has been allocated to upgrading nearby transport networks, including the completion of the $232 million Mitchell Freeway extension and the $15.5 million upgrade to the Nowergup Depot, which was completed in mid-2020.
The Colliers team of James Wilson and Richard Cash are marketing the Woolworths Clarkson Shopping Centre as one of the highest-quality assets to come to market in Perth in the past five years.
“This is an extremely rare opportunity to purchase a recently developed Woolworths anchored shopping centre in an established and growing catchment in Perth’s northern growth corridor. The design of the centre is unique given the successful repurposing of the former Bunnings Warehouse as evidenced by the recent judge’s commendation at the WA Property Council awards, noting that the centre provides a great example of sustainable, adaptive reuse of existing built form.
“We are expecting significant interest from a wide pool of buyers given that Woolworths Clarkson presents as the best convenience retail centre to come to market publicly in Western Australia in the last five years. This is evident given the centre’s robust tenancy mix, high underlying land content, convenient customer access/egress and superior retail performance,” Cash said.
“The neighbourhood shopping centre sector has been incredibly resilient, with domestic and offshore private capital targeting brand new centres in high growth metropolitan locations comparable to Clarkson.” Wilson said.
“Neighbourhood shopping centres are often developed in new or emerging communities, whereas Woolworths Clarkson has been built in an established locale directly catering to the existing demand in the market.
“Woolworths Clarkson Shopping Centre provides the most convenient everyday shopping experience for the local community, with its abundant on-grade car park featuring substantial shade sails and covered parking, an 8-bay Direct to Boot drive through, and supporting tenancies such as The Reject Shop, pharmacy and gym.”
Main Trade Area (MTA) population is currently estimated at 81,275 residents and is forecasted to grow to 95,025 residents by 2041. Woolworths Clarkson is the only freestanding, full-line supermarket within the Primary Sector, which consists of an estimated 22,263 residents.
Supermarket sales are the largest retail spending group in the MTA, estimated at $487.8 million in 2023 and accounting for 25.4% of total expenditure. This is forecasted to grow to $902.9 million by 2041, an average growth rate of 3.5% per annum.
No opportunities for a new full-line supermarket have been identified in the Primary Sector due to the established nature of the Clarkson catchment, providing confidence for investors in the long-term growth potential of Woolworths Clarkson Shopping Centre.
