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News release

Perth

Perth’s highly successful outlet centre for sale

Harbour Town Perth is one of only 18 outlet centres across Australia


PERTH, 21 AUGUST 2013 – Harbour Town Perth is being offered to the market for sale, through an Expressions of Interest campaign, conducted by Simon Rooney of Jones Lang LaSalle.

This asset is strategically positioned as one of only 18 outlet centres across Australia and the only outlet shopping centre within the Perth CBD and greater Western Australia. It services a significant TTA (Total Trade Area) of 1.92 million residents, a worker population of 121,503 and a robust tourism spending market with 11.8 million visitor nights spent in inner Perth.

The highly accessible, 1.9ha site at 840 Wellington Street, West Perth, is located just one kilometre or a 20 minute walk from the Perth CBD, was originally developed in 2003 by the Lewis Land Group in joint venture with ING Real Estate Development Australia. The Centre is presented over two levels and extends to a total GLA (Gross Lettable Area) of approximately 21,238 square metres, with approximately 120 outlet stores.

Key brands include Esprit, Adidas, Cotton On, Jeans West, Levis, French Connection, Mimco, Oroton, Peter Alexander, Sportscraft, Alannah Hill, Cue and Rip Curl. Approximately 79% of the total GLA is leased to apparel retailers including mid to higher end retailers.

Australian Head of Retail Investments at Jones Lang LaSalle, Simon Rooney said, “This strong performing and highly successful centre, which is the only one of its kind in Perth and for greater Western Australia, has an excellent tenant mix, composition and customer drawing power.

“The discount nature of outlet centres also means they are a resilient retail format, particularly during periods of cautious consumer behaviour.

“In terms of retail spending growth, Western Australia has been an outperforming market for some time now. The state’s strong rate of population growth is underpinning the local retail sector and the growth prospects for this centre are very positive.”

Mr Rooney said, “With no direct competition known or identified in the future, Harbour Town Perth is well positioned to continue to dominate its total trade area catchment of 1.92 million residents.”

The Expressions of Interest (EOI) campaign for Harbour Town Perth Outlet Centre closes at 12 noon Australian Eastern Standard Time (AEST) on Thursday 26 September 2013.