Perth, WA

A prime clutch of vacant and built-form properties complete with approved liquor licence have hit the market in the rapidly-growing suburb of Bertram, offering the opportunity to secure and develop a thriving neighbourhood shopping precinct in Perth’s expanding southern metropolitan corridor.

The properties on Hero Crescent, including a more than 9,000sq m site earmarked for the development of Bertram’s shopping centre, are being sold by Colliers International.

In addition to the shopping centre site, a vacant site of 2,807sq m and four built-form shopfront units ranging in size between 111sq m and 169sq m – one with a liquor licence in place – are also on the market.

The properties sit less than three kilometres from the Kwinana Town Centre and close to the new Kwinana train station, with excellent freeway access.

Located at Lot 451 Hero Crescent, the 9,196sq m shopping centre site has a development approval in place for a centre that would be anchored by a 1300sq m supermarket tenancy.

A further 19 specialist retail tenancies in the centre range in size from 10sq m to 300sq m and are planned to include a newsagent, café, bank, travel agency, gourmet deli and takeaway food outlets.

Sitting opposite the shopping centre site is Lot 455 Hero Crescent, a vacant site which is zoned Commercial and open to any complying use, including liquor/tavern, shop, fast food takeaway, office and showroom.

“IGA has already flagged its interest in becoming the anchor tenant for the shopping centre, which will be servicing one of Perth’s fastest-growing suburbs,” said Colliers International Executive, Industrial Agency, Rick Bantleman.

“It is rare that neighbourhood shopping centre sites come to market, as commercial land is scarce and most are now retained and developed by the developers behind the surrounding residential estates – so we would expect to see significant interest.”

The four adjoining retail shopfront units also offer a range of uses. Unit 1 comprises 154sq m, and has already been leased to a pharmacy. Unit 2, at 114sq m, is earmarked for use as a medical suite, while Unit 3 at 169sq m is for use as a liquor store. Unit 4 comprises 111sq m and is vacant, with no predetermined use.

Mr Bantleman said the approved liquor license attached to Unit 3 opened up the prospect of a staged development, taking advantage of Bertram’s expanding population.

“With a liquor licence in place, the opportunity exists for a savvy investor to pick up both Unit 3 and the vacant commercial lot, and set up a bottle shop in the unit as a first step,” he said.

“As the population of the area grows, there is then the possibility – subject to council approval – of transferring the license over to the vacant site and establishing a tavern development with a drive-through bottle shop.”

With WA’s retail sector continuing to perform strongly as a result of the State’s booming economy, retail properties have been tightly held – and neighbourhood shopping centres in particular have become keenly sought after.

“The sale of these properties opens up the opportunity for a single investor or syndicate to secure ownership of almost 100 per cent of what will become the commercial and retail centre of a rapidly growing locality – not only the shopping centre, but the retail units and an outstanding development site,” said Mr Bantleman.

“The Town of Kwinana has stated that almost $11.5 billion in private and government sector funding will be poured into development in the area over the next 15 years for new residential, industrial and commercial projects.”

The development of a major residential subdivision north of Bertram, Belgravia Central, is expected to see the population and number of dwellings in the suburb increase by almost 70 per cent over the next six years.

The flow of funding and development of major projects in the Town of Kwinana is also expected to see strong population and economic growth for the surrounding area, with a continuing increase in the number of young families moving to the area set to underpin the demand for local shopping centres.

Colliers International Director of Investment Sales Ian Mickle said this further underlined the value of the sites.

“The sale of these properties presents a unique opportunity to tap into that dynamic and get into the market in its early stages, with strong future demand likely to see strong capital and rental growth,” said Mr Mickle.

Lots 451 and 455 Hero Crescent will be auctioned on site at 12pm AWST on June 18, unless sold prior. The four built-form shopfront units are being offered For Sale by Private Treaty.

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.

Contact Information

Rick Bantleman
Executive, Industrial Agency

Tel: +61 8 9261 6666
Fax: + 61 8 9261 6611
Mob: +61 434 659 809
E: rick.bantleman@colliers.com 

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