Margaret River and Busselton procuring centres on the market

• The centres have been owned by a non-public household since 2011
• Each are anchored by a Coles
• Busselton is benefitting from a 10-year renewal program backed by the federal and state governments

A pair of procuring centres within the two hottest vacation spots within the southwest of WA has been listed on the market for the primary time in over a decade.

Margaret River Purchasing Centres and Busselton Boulevard Purchasing Centres are each Coles-anchored retail hubs.

James Douglas of CBRE and Craig Butler of VPG Property are steering the method on behalf of the non-public household that has owned the centres since 2011.

The 2 belongings are anticipated to obtain provides of over $40 million, though the distributors will think about particular person provides.

“We’re anticipating robust curiosity from a spread of buyers for these belongings,” Mr Douglas mentioned.

“Each belongings take pleasure in twin catchments and retail sale alternatives, with everlasting residents in addition to a burgeoning tourism affect.

James Douglas, CBRE

“Tightly held and infrequently traded, it’s a novel alternative to personal a part of Western Australia’s most notable locations.”

The Margaret River centre occupies a 4,622 sqm Bussell Freeway landholding, with a gross leasable space of two,994 sqm. The Coles is on a lease to 2026, accompanied by 4 speciality tenancies. The centre additionally options 224 automobile parking areas.

The Busselton centre occupies a 5,757 sqm web site and a gross leasable space of 4,797 sqm.

The Coles is complemented by 15 speciality tenancies, with Busselton benefitting from a state-and-federal-government 10-year city renewal venture. This features a Hilton Lodge which is scheduled to open in 2023.

“VPG Property has managed and leased the belongings on behalf of the homeowners for 10 years, with the centres and places going from energy to energy,” Mr Butler added.

“We and the centre’s retailers have seen the push to regional dwelling over the previous two years, with these two places providing employment and an ideal high quality of life, all inside a number of hours’ drive from Perth.”

Craig Butler, VPG Property

Expressions of curiosity are invited by 23 November.