Woolworths-Anchored Neighbourhood Centre Portfolio in WA Comes to Market

Woolworths and BWS-anchored Carnarvon Central and Carramar Village positioned as essential retail hubs for sale in one line or individually.

Colliers Retail Middle Markets are excited to present Carramar Village and Carnarvon Central, a portfolio of Western Australian Woolworths anchored Neighbourhood Shopping Centres available ‘in one line’ or individually.

Carramar Village, a strategically located neighbourhood shopping centre anchored by Woolworths and BWS, is being brought to market by the Colliers Retail Middle Markets Team, presenting a rare opportunity for investors to secure a premium retail asset in one of Perth’s fast-growing corridors.

Located at 7 Cheriton Drive, the 5,337sqm centre includes 15 specialty stores, two kiosks, and an ATM, with 332 on-grade parking bays on a 20,793sqm landholding. Carramar Village is positioned five kilometres from Joondalup, Perth’s major satellite city. The centre boasts triple street frontage and high exposure to Joondalup Drive, which sees over 30,000 vehicles daily.

Richard Cash, Colliers State Chief Executive for WA, said, “Western Australia continues to lead the nation in retail spending growth, with a 6.22% year-on-year increase recorded in February. Strong population growth, driven by interstate and overseas migration, is fuelling demand for essential retail services. Assets like Carramar Village and Carnarvon Central, with their strategic location and essential service offering, are increasingly sought after by investors.”

James Wilson, Colliers Head of Retail Middle Markets, commented, “The retail sector has shown remarkable resilience, supported by steady consumer spending and easing inflation. The recent rate cut by the Reserve Bank has lifted sentiment, and we’re seeing renewed investor confidence in neighbourhood retail. With limited supply and rising demand, assets like Carramar Village and Carnarvon Central are well-positioned to benefit from these favourable market dynamics.”

Carnarvon Central, a dominant retail asset anchored by Woolworths and BWS in Western Australia’s Gascoyne region, is a high-performing Neighbourhood Centre presenting a rare opportunity to acquire a critical piece of infrastructure in one of WA’s most strategically positioned regional towns.

Carnarvon Central is the only full-line supermarket within a 450km radius, serving the local community, Gascoyne Agricultural region, FIFO workers, and over 1.1 million annual tourists. Carnarvon is set for major growth, driven by upcoming projects such as the $1.5B HyEnergy green hydrogen initiative, the $658M Yangibana Rare Earths Project, and the $48M Ningaloo Reef Resort. These developments are expected to attract thousands of workers and visitors, further cementing the Centre’s role as a key retail and service hub.

The 6,143sqm centre generates 73% of its income from Woolworths Group and Endeavour Group, and includes 16 specialty stores, a kiosk, ATM, and 263 car parks. Positioned on a 16,276sqm site with triple street frontage, it offers strong visibility and accessibility in a key regional hub.

Mr Cash, commented, “Western Australia’s robust economy—characterised by full employment, strong population growth, and sustained infrastructure investment—offers investors a compelling opportunity to enter a resilient and high-performing asset class. Neighbourhood shopping centres, in particular, continue to demonstrate consistent returns and long-term stability, making them an attractive choice for both local and interstate investors.”

The strength of the WA economy, with full employment and the rapidly growing population base provides investors with increased confidence in the opportunity to invest in Western Australia in a very defensive asset class that continues to perform strongly.

Carramar Village and Carnarvon Central are being offered for sale via Expressions of Interest, closing at 2:00pm (AWST) on Thursday, 19 June 2025.