DA approved urban redeveloment comprising a major supermarket and residential towers!
RWC (WA) are delighted to offer Maylands Village to the market, a unique opportunity to acquire a DA approved urban redevelopment project comprising a major supermarket and residential towers strategically located in the city fringe locale of Maylands 4km from the Perth CBD.
This exciting opportunity is being exclusively marketed via an Expressions of Interest campaign. The Seller is seeking an outright sale, Joint Venture, or would consider an arrangement where Greenpool Capital are retained as Development Manager to deliver the project.
The asset comprises 29 strata titled lots situated on a 7,157m² parent lot. The existing Strata Scheme is in the process of being dissolved. The existing approved DA consists of a Woolworths Supermarket plus 13 specialty shops at ground level, Childcare Centre, Gym & office on levels 1-2, with upper levels to include 135 apartments. The shopping centre can be constructed singularly with the residential component to be completed later should the owner wish. Build to Sell (BTS) and Build to Rent (BTR) are both feasible.
Salient Points
• Triple street frontage (Guildford Rd, Seventh & Eighth Ave) 25,000 vehicles per day
• Prominent Maylands town centre location; 200m from Maylands Train Station, 4km from CBD and 6km from Perth Airport
• Projected Income (Retail Centre) + $4,750,000 p.a.
• WALE by Income (on completion) 9.65 years
• Estimated Value on Completion (Retail & Residential) + $230,000,000
• Target IRR (Total Project) c. 30%
• The vendor has developed a staged feasibility to allow for initial development of the retail centre
• The vendor is seeking an amendment to the existing DA which would see significant gains
• Scheme is already 46% precommitted with anchor tenants Woolworths, Revo and Childcare.
To discuss in detail, please contact the exclusive selling agents
Brett Wilkins
0478 611 168
[email protected]
Andrew Woodley-Page
Capital Markets
0438 939 869
[email protected]
*Approx
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