Growth corridor Perth mall fetches $30.1m
Locus Property with Security Capital Australia has swooped on a modern shopping centre at Alkimos, on the coast, 45 kilometres north of Perth.
Gateway Alkimos, covering 2.06 hectares at 1 Graceful Boulevard, on the south west corner of Marmion Avenue, is setting the pair back $30.1 million.
With 5746 square metres of lettable area, a 2284 sqm tract offering immediate development upside, and 326 car parks, the property was offloaded by the developer, Marmion Network, controlled by a syndicate including late local developer Victor Vlahos.
IGA, with an associated Cellarbrations, is the anchor.
There is also a childcare centre, dentist, doctor and gym.
The catchment is affluent, with annual household income circling $110,000 (Greater Perth’s average is $97,000 according to the Australian Bureau of Statistics).
More than 23,000 vehicles pass it daily (story continues below).
In a statement, the buyers said the asset would deliver strong initial returns while “contributing to the growth and vibrancy of the local community”.
Affluent catchment
Alkimos, part of Perth’ Northern Coastal Growth Corridor, is expected to accommodate some 39,000 people by 2046 – up from about 16,000 today, according to local council estimates.
The Gateway Alkimos deal comes 18 months since we reported Locus and Security Capital Australia paid Australian Unity $36.5m for the Woodvale Boulevard shopping centre, about 21km north of town.
Like at Alkimos, the catchment there is considered affluent, with an average annual household income just over $121,000.
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