Lakeside Plaza, situated in the growing Perth suburb of Byford, has been listed for sale. Opening in December 2017, Lakeside Plaza is a 4,710m2 neighbourhood shopping centre in the heart of an award-winning master planned residential community that will be home to 10,000 residents. Transactions in the Perth market have been strong all year, with a number of centres hitting the market including Manjimup Shopping Centre.
Located on the corner of Doley Road and Meade Street, on an extensive 13,312m2 site, the purpose-built centre is anchored by a 1,254m2 IGA supermarket with 19 specialty retailers, including a pharmacy, childcare centre, vet clinic and medical/dental centre.
CBRE’s Richard Cash and Anthony Del Borrello, in conjunction with Knight Frank’s Todd Schaffer and Rick McIntosh-Whyte, have been appointed to steer the sale process via Expressions of Interest. Cash said Byford’s lifestyle appeal and population growth would underpin buyer interest.
“With planning underway to extend the Armadale train line south to Byford, connectivity and accessibility to Perth will improve significantly and ultimately underpin continued population growth, which is forecasted to increase by 4.29% per annum till 2036,” Cash said.
Schaffer added: “Investor demand for modern neighbourhood shopping centres remains robust, with four shopping centres having transacted and a further two currently under contract in the first half of 2019. Buyers continue to target convenience focused shopping centres in high growth catchment areas.”
Lakeside Plaza is being offered for sale via Expressions of Interest closing July 18.
