Perth growth corridor mall sells again
A land rich shopping centre in a north east Perth growth corridor has sold for the second time in three years.
Woodlake Village, in Ellenbrook, is speculated to be collecting $14.3 million – an eight per cent net passing yield – from Banna Property Group.
With 4379 square metres, it is anchored to an IGA, with 24 specialty stores and a medical centre.
The 1.78 hectare block, 20 Sunray Circle, also facing Woodlake Boulevard, contains 268 car parks.
Porter Commercial’s Bruce Porter and Cameron Porter represented the private vendor which paid $11.35m in September, 2022 (story continues below).
The guide, they said during their campaign, was well below replacement cost.
There is also room for rental growth, they added. Over 20 years old, the mall is unrenovated.
Ellenbrook is about 26 kilometres from Perth’s CBD.
Subscribe to our newsletter at the bottom of this page.
