Colliers, on behalf of our valued client, Arise Developments, announce the sale of the retail convenience offering of Brabham Common, 2 & 3 Marvel Entrance, Brabham, Perth, WA for $31,420,000.

Colliers exclusive selling agents, Head of Retail Middle Markets Australia, James Wilson and Western Australia’s State Chief Executive, Richard Cash, negotiated the successful outcome, utilising Collier’s national retail expertise engage ensure maximum value was unlocked for this brand-new Convenience Retail Centre located in Perth’s exciting North West growth corridor.

Mr James Wilson said “The Brabham Common campaign was incredibly well received, with over 150 enquiries received from local, interstate and offshore investors. The brand-new high-quality nature of convenience retail investment generated competitive bidding, with Colliers able to extract a premium by divesting Lot 2 to a QLD private investor and Lot 3 to Perth based Westbridge Funds Management, as opposed to an in one line sale.”

The impressive result underpins the high demand for convenience retail investments in prime locations secured by strong multinational/chain covenants.

Colliers State Chief Executive, WA Richard Cash said “The high-quality nature of the offering and price point, required a very strategic marketing campaign targeted towards West Coast, East Coast and offshore buyer groups. The marketing strategy was well received by the retail investment market. The purchasers were comfortable purchasing a retail investment in Western Australia, given the buoyant state economy, projected population growth and the resilient nature of the offering.”

Brabham Common is a brand-new, fully leased Convenience Centre located 24 kilometres northeast of Perth CBD in one of Western Australia’s fastest-growing areas boasting a population growth rate of 6.5% p.a. The Centre exhibits a robust tenancy mix with an 89% weighting to blue-chip multinational/chain tenants, including McDonald’s, KFC, 7-Eleven, Autobahn, Subway, Oporto and EG Fuel.

Brabham Common will form part of the greater Whiteman Edge Town Centre, supported by the nearby brand-new Neighbourhood Shopping Centre that is anchored by a Coles Supermarket and 12 supporting specialties. The precinct’s population growth is being delivered by top tier developers including Mirvac, Stockland and Peet.

Simon Worth, Head of Capital Transactions at Westbridge Funds Management said "We are pleased to announce that this asset will be added to our Westbridge Diversified Fund No.4, which aims to provide investors with consistent income and exposure to a portfolio of high-quality commercial assets diversified across sectors.”

Mr Worth outlined the property’s investment appeal and said, "This property offers a secure income profile through blue-chip non-discretionary and service-based retailers. Furthermore, the centre also benefits from its strategic placement in the Whiteman Edge town centre, a rapidly evolving growth corridor in Perth.”

The brand-new Whiteman edge station will be positioned 300 metres from Brabham Common, further driving population growth and development within the area.