Primewest picks up Mandurah Woolworths + Upside20 January 2020
Fresh after listing, Primewest are back to the market with the acquisition of a Woolworths Supermarket in Mandurah which also offers further development potential.
The neighbourhood shopping centre which was developed by Woolworths, consists of 5,918sqm of gross lettable area, anchored by a full-line Woolworths supermarket, BWS liquor store on a brand new 12-year lease, along with 16 other tenancies.
The Centre occupies a landmark site of 19,721sqm near the intersection of Mandurahs key arterial networks. The site benefits from three frontages, each with access points to the highly convenient neighbourhood shopping centre.
The Centre serves a catchment area of approx 42,000 people. Once a small holiday town, Mandurah in Perth's south has experienced aggressive growth. The city's population has exploded from around 30,000 to 90,000 over three decades, and that number is expected to grow to 120,000 by 2036.
The sale was managed by Colliers.