An exceptional opportunity to acquire a 50% stake alongside Scentre Group, one of Australia’s leading managers, in the ‘Super Sub‑Regional’ Westfield Whitford City. The Centre, located in the affluent coastal suburb of Hillarys, 20km north of Perth, is set to generate a strong circa $250million-plus contest.

Lachlan MacGillivray, Managing Director, Asia Pacific, Retail Capital Markets, has been exclusively appointed to sell a 50% non-management interest in Westfield Whitford City via an Expression of Interest campaign closing Wednesday 26th July 2023 at 2PM (AEST).

Primarily set across a single level, the Centre is anchored by Coles, Woolworths and ALDI supermarkets, Kmart, and a Big W discount department store. An $80million redevelopment completed in 2017 delivered a vibrant dining and entertainment precinct, incorporating an eight-screen Event Cinemas, a bowling alley, and a diverse mix of dining operators.

“This is a high-performing, large scale convenience centre which is at the heart of its community,” Mr MacGillivray said. “The average customer visits three times per week and the Centre is home to the State’s top performing Woolworths Supermarket, making it very resilient. We are seeing strong growth after a major remix and the introduction of drawcard brands to build on the success of its best in class cinema and lifestyle precinct.”

Westfield Whitford City is situated on a prime 23.5ha landholding, including a separately titled Large Format Retail Centre, offering a total GLA of 88,880 sqm – There is 65,759, sqm of enclosed retail floorspace in the main centre, 2,970 sqm of offices, 6,422sqm of pad sites and 9,728 sqm of large format retail.

“Westfield Whitford City is an integral part of the social and economic fabric of the Perth’s northern suburbs. With a total MAT of $499.6 million, it caters to a large trade area population of 458,210 and received 6.7 million annual customer visits as at April 2023, with an average spend of $67 per person.” Westfield Whitford City occupies a high-profile corner site on Whitfords Avenue and Marmion Avenue, with a prime 970m frontage to Whitfords Avenue exposing the centre to more than 6.8 million vehicles per annum.

“Located in the fast-growing northwest corridor of Perth, Hillarys boasts an attractive coastal lifestyle and offers an easy access to beaches, parks, schools and amenities,” Mr MacGillivray said. “Westfield Whitford City is the core retail and entertainment offering in the area.

“Westfield Whitford City is also a land-rich asset with mixed use potential offering significant future options.”

The Centre offers extensive value-add development opportunities in the short, medium and long terms, with existing plans for the construction of an eight‑storey building with 87 apartments; a three‑storey office building totalling 3,720sqm of NLA; and a plaza.

The Australian retail sector is poised to draw significant interest from global investors, according to Colliers’ latest investment research insights, as instability across European and American markets forces a major shift towards the Asia Pacific region.

“We are seeing a strong selection of Domestic and International investors looking to partner with Australia’s leading retail asset manager.”

This exceptional opportunity to partner with Scentre Group through a 50% non-management interest in Westfield Whitford City is being marketed via an Expressions of Interest campaign closing 2pm Australian Eastern Daylight Time (AEST) on Wednesday, 26th July 2023.

To request a copy of the Information Memorandum please contact the marketing agent Lachlan MacGillivray via the contact details below.

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