JLL’s Sean Flynn and Nigel Freshwater exclusively managed the off-market sale of Riverton Shopping Centre on behalf of a private owner.

Riverton Shopping Centre sold for $9 million representing an initial yield of just over 7%. The centre is only the second neighbourhood centre to trade in WA in 2024, following closely JLL’s sale of Collie Central Shopping Centre for $10 million earlier this month.

Riverton has been a local shopping institution for the Riverton, Rossmoyne, and Willetton community for decades, with its strong performing Riverton Fresh IGA supermarket and 9 specialities delivering a high level of retail amenity.

Located prominently at the busy intersection of High Road and Herald Avenue in Willetton’s mixed commercial precinct, the local, convenience neighbourhood centre sits on a large 7,551sqm corner site and benefits from 100% occupancy with specialty tenants including Wizard Pharmacy, Firewood Café & Restaurant, Willetton News and a free-standing Muzz Buzz.

JLL Senior Director, Capital Markets Transactions Mr Flynn said, “Riverton Shopping Centre’s longstanding stabilised tenant mix reflects the quality of its surrounding retail catchment, which is further illustrated by the fact there hasn’t been a vacancy in the centre for many years.”

JLL Senior Director, Capital Markets Transactions Mr Freshwater said, “Strategically located daily needs convenience retail assets such as Riverton are traditionally tightly held by investors and well-underpinned as land rich investments, and offer strong and stable income streams that are highly coveted in the current market.”

“We are very pleased with the outcome which will deliver an exciting future for the IGA operator, the centres loyal specialty retailers, and ultimately the community” Mr Flynn added.

More Retail Transactions: 

Newmark Capital’s Brandon Park Shopping Centre sale by JLL and CBRE  | Commo.

East Pilbara’s Dominant Woolworths-Anchored Shopping Centre for sale Colliers  | Commo.

Centuria acquires c.$70m Sub regional Shopping Centre - CBRE | Commo.

Major Retail Transaction in South-West WA - JLL | Commo.

Coles Anchored Whiteman Edge Village Brabham WA sold $39m by JLL  | Commo.

Coles anchored centre and development site for sale in Perth’s rapidly expanding north-east growth corridor - JLL | Commo.

Freestanding Coles Launceston Supermarket for sale for the first time in over 7 years - JLL & Stonebridge | Commo.

Major ISPT retail centre sold $126.95m in one of Australia’s most coveted locations - Stonebridge & JLL   | Commo.