Perron sells Westfield Airport West stake
Perron Group has quietly sold its half stake in the triple-supermarket anchored Westfield Airport West, north west of Melbourne.
The buyer is JY Group, for $182 million.
On 16.2 hectares it contains a 52,900 square metres with a Village Cinemas, 140 specialty stores and dining precinct.
There are also several major services tenants.
Aldi, Coles and Woolworths are amongst the anchors. There is also a Target and Kmart.
CBRE’s Simon Rooney was the agent.
Scentre Group holds the balance.
$364m centre
Perron, founded by Perth businessman Stan Perron, has historically held a portfolio of major retail and commercial assets across Australia.
The group has been progressively reducing its exposure to direct property ownership following Mr Perron’s death in 2023, with proceeds supporting the Stan Perron Charitable Foundation.
In early 2025, it sold 50 per cent interests in Perth shopping centres Belmont Forum and Cockburn Gateway.
GPT was that buyer for c$482m (continues below).
Earlier this month realestatesource.com.au reported Perron and Mirvac sold the ex-Reader’s Digest HQ, in Sydney’s Ultimo, held a decade.
Westfield Airport West, at 29–35 Louis Street, was part of the broader Westfield portfolio before a 2014 restructure that separated Westfield’s Australian and New Zealand shopping centres into Scentre Group.
Another JY JV
Founded in 2019, the Sydney-based Hong Kong backed JY Group has accumulated a portfolio of retail assets through part-share acquisitions, typically alongside major centre operators.
Recent purchases include half-stakes in Perth’s Westfield Whitford City – which it coincidentally co-owns with Scentre, and in Sydney, Warriewood Square and Bankstown Central.
In 2023 it bought a 50 per cent interest in Roxburgh Village, in Melbourne’s Roxburgh Park.
Two years earlier JY teamed with Haben to pick up the 10.6ha Casey Central, across town in Narre Warren, for $225m.
JY and Scentre also co-control Westfield Marion – Adelaide’s biggest mall – following a $670m deal in March.
Airport West is about 12 kilometres from the CBD.
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