The relocation of Fremantle’s iconic Shacks Holden/HSV dealership has unlocked an opportunity to acquire more than 11,000sqm of prized real estate in the emerging east end precinct. 

Located at 50-60 and 62-68 Queen Victoria Street, the 11,038sqm property has been owned by the Kerr & Shacks family for more than 95 years - home to several automotive operations in that time, including a Chevrolet dealership from 1934, Holden dealership from 1948 and most recently the Holden/HSV dealership since 1988. 

The freehold sites have been rezoned for high density residential development as part of City of Fremantle’s planning strategy. 

CBRE’s Ben Younger and Michael Milne have been appointed to manage the sale via an Expressions of Interest campaign. The property will be subject to a lease back to Shacks Holden/HSV until its relocation to Cockburn Central between 2021-2022.  

Mr Younger said the property represented an outstanding development opportunity in one of Perth’s most sought-after locations. 

“The site is ideal for future residential development, being located adjoining the award-winning ‘Heirloom’ project and adjacent “Liv” apartments," he said.

"It offers a tremendous outlook over Fremantle harbour and beyond, while still being conveniently situated nearby the greater amenities of Fremantle."

“Fremantle is an exciting and evolving precinct undergoing an immense transformation.

"This strengthening appeal is expected to underpin competitive buyer interest from a range of groups.” 

Shacks Holden/HSV Chairman Doug Kerr said the decision to sell was bittersweet, with the family company embedded in the Fremantle community for almost an entire century. 

“We have enjoyed our time with the Fremantle community, however, it was inevitable that a day would come when the cost of marketing and servicing of Holden and HSV vehicles from an inner-city location would not be viable,” Mr Kerr said. 

“The relocation of Shacks Holden/HSV to a more ‘purpose-fit’ site in a commercial hub such as Cockburn Central provides an opportunity to fulfil our customer’s expectations better.” 

Similar to this:

Charter Hall Retail Management acquires Sydney's Rockdale Plaza for $142 million

Heitman brings 12-month Australian investment total to $700 million

Perth's ENI House sold for $86 million