Perth's commercial leasing market has been given a vote of confidence from large format retailer Road Tech Marine which has expanded its presence within the city's suburbs.

Part of the Jaycar Electronics group, the company opened a new store at 1429 Albany Highway, Cannington last month after signing a five-year lease for tenancy 4 of the site.

The property, which comprises a lettable area of 653.7 square metres, has a net rent of $162,500 per annum, plus outgoings and GST.

At a glance: 

• Tenancy 4, 1429 Albany Highway, Cannington has been leased to large format retailer Road Tech Marine in a five-year deal negotiated by Vend Property Managing Director Jeff Klopper.
• The property, which comprises a lettable area of 653.7 square metres, has a net rent of $162,500 per annum, plus outgoings and GST and a gross rent of $205,928.57, plus GST
• The company also recently opened a store at Innaloo.

The deal comes less than a month after Road Tech Marine opened a store at Innaloo.

Vend Property Managing Director Jeff Klopper, who negotiated both deals, told WILLIAMS MEDIA the retailer saw Perth as a new market to expand their business, following the strong trading results of their existing Jaycar stores.

The new Road Tech Marine location at Innaloo. Source: Vend Property

"They know the Perth market well and are working on getting some synergy in the area," he said.

“They are hoping to have a third store open by December of this year and have plans to open more next year."

Mr Klopper added that Cannington had proven popular for a wide variety of businesses across the past couple of years, with the pandemic disruption doing little to slow the leasing momentum of the area.

"Chemist Warehouse, Toymate New Idea Furniture, Baby Bunting have all moved into the area in the past two years, which has brought about a big change," he said.

"We've also had a lot of vacancies along the Albany Highway at Cannington taken up across the past six months."

Click here for more information about Vend Property.

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