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News release

Perth

Perth CBD’s most strategic retail investment and future redevelopment opportunity – Carillon City – offered for sale


​One of Perth’s largest CBD assets, Carillon City shopping and office complex has been brought to the market by real estate firm, JLL.

Carillon City is a major city shopping and office complex located within the heart of the Perth CBD with unmatched exposure to Murray Street and Hay Street Malls, as well as Forrest Place. The complex houses one of Perth’s most established city shopping centres comprising the flagship Topshop Topman store, three mini major tenancies, 104 specialty shops and kiosks and a 14 level office tower encompassing 47 office tenancies, extending to a total GLA of 18,059 square metres.

According to Simon Rooney, JLL’s Australasian Retail Investments Head, “Carillon City is a highly strategic investment and future redevelopment opportunity, a landmark site with unmatched exposure to the bustling Murray and Hay Street Malls, the most connected retailing destination in the Perth CBD and provides significant value enhancement opportunities.

“Carillon City has unparalleled connectivity to the adjoining and nearby Forrest Chase (Myer), David Jones and Trinity Arcade, providing an inter-connected and dominant retail precinct, harnessing significant pedestrian flows and presenting obvious development opportunities.

“The stock base for major CBD shopping centres in Australia is limited and historically have been very rarely traded.  We therefore expect Carillon City will be keenly sought,” said Mr Rooney.

According to JLL Research, there are just 20 CBD shopping centres over 10,000 square metres in size nationally and Carillon City is one of just three centres over that threshold in the Perth CBD.

Mr Rooney said, “The Perth CBD is primed for a resurgence through the construction of new apartments, hotels and infrastructure and urban renewal projects, which will drive demand for quality retail amenity in the CBD and lead to strong leasing market activity.”

According to JLL Research, new international retailers will seek space within the Perth CBD as they progress with expanding their store network throughout Australia.

Mr Rooney said, “The City of Perth is a bustling tourism market for offshore and domestic visitors and is expected to experience robust growth with the $1 billion redevelopment of Perth Airport and the significant pipeline of short stay accommodation in and around the CBD.”

About Carillon City Shopping Centre:
Carillon City’s unmatched position within the heart of the Perth CBD’s highly coveted retail core provides unrivalled pedestrian traffic, with direct frontages to both Murray and Hay Street Malls, which respectively are estimated to accommodate 45,000 and 31,450 daytime pedestrians.


Carillon City is one of the busiest shopping centres in the Perth CBD, acting as a critical link between the office core on St Georges Terrace (via Trinity Arcade) and Perth Railway Station, the main interchange between all six metropolitan railway lines.

Carillon City serves multiple customer segments, including the majority of the Perth metropolitan region with a resident TTA population of around 1.6 million, a significant worker market of 132,600, a student market of 78,743 and a tourism market of over 7.6 million visitor nights in Perth City region for the year ended June 2015. The TTA population is expected to experience exceptional growth of 1.7% per annum, reaching nearly 1.9 million residents by 2026.