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ICONIC FREEMASONS HALL IN SUBIACO LISTED FOR SALE
As published in The West Australian – Wednesday, 2nd August 2017

The Peard Real Estate Group has listed for sale its corporate head office building which is the iconic Freemans Hall at 181 Roberts Road, Subiaco. It has been listed for sale at $5,750,000 with AXIA Corporate Property.

Peter Peard, CEO of the Peard Real Estate Group said the sale of the corporate office would allow the company to invest in new property management portfolios.

Selling agent Wayne Mitsikas, Director of Investment Sales at AXIA Corporate Property said the Peard Real Estate Group would be leasing 50% of the building after the sale of the property at $150,000 per annum for an initial five year term.

“The Freemans Hall is arguably one of the best office environments outside the Perth CBD and has been beautifully refurbished with character improvements.

“It covers a land area of 886sqm with a building area of 751sqm and onsite parking for 18 car bays. The building is perfectly located close to the CBD and the heart of Subiaco and has easy access to a wide variety of cafes and restaurants.

“We expect a high level of interest in this unique building from both investors are well as owner occupier buyers because of the very strong demand that currently exists in the Perth commercial property market for buildings with prime tenants such as the Peard Real Estate Group,” he said.

Peter Peard added that the sale of the Freemasons Hall would allow the company to significantly boost its investment in property management portfolios.

“Over the past six months, we have been approached by several real estate agencies offering to sell their property management portfolios.

“The Peard Real Estate Group is planning to take advantage of these opportunities as now is a prime time to expand our business in a counter cyclical market.

“This process has already begun with our company recently acquiring three property management portfolios in the Perth metropolitan area. We continue to assess quality property management portfolios and look forward to continuing to provide exceptional service to our clients.

“The next year will see a major shakeup in the Perth real estate industry and our company is planning to grow from strength to strength by aggressively expanding our property management division during the coming months.

“However, we recognise our people are the most valuable asset in our organisation, and their continued high performance allows us to assess these opportunities to attain scale in a service orientated industry,” he said.

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MIDLAND LAND OFFERING WILL APPEAL TO ALL TYPES

A unique and expansive land-area consisting of 4,275 sqm in Midland’s thriving epicentre is likely to pique the interest of developers, investors and occupiers alike in one of WA’s fondly-regarded historical precincts.

Firmly secured as an evolving regional centre thanks to its modern ammenities and infrastructure, Midland continues to attract interest from potential property buyers who are keen to take advantage of the region’s excellent rail and transport linkages, medical facilities – such as the new St John of God Hospital (SJOGH) and Curtin University Medical School – as well as the newly developed Midland Gate Shopping Centre.

The existing site at 36 Railway Parade, is home to the Swan Christian Education Association which will be re-locating to newer premises later this year.

The building, set across three sections, is configured with multiple rooms and attractive high ceilings, which, according to Axia Corporate Property director – industrial, Rocco Demaio, is an attractive option for potential occupiers intending to use the site as a medical centre or related practitioner rooms, especially due to its location opposite SJOGH and key transport linkages.

However, Mr Demaio says the site is particularly unique due to its multiple development and income-earning opportunities, especially for investors and developers.

“The existing fit-out is very good, however there is room to improve other buildings which could be leased-out separately whilst waiting to develop the remainder of the site,” Mr Demaio says.
“Ultimately, an investor could lease the whole property out, or alternatively, occupy or lease some sections and upgrade others simultaneously. The land has extensive dual-road frontages with multiple entry points – each separate to each of the building’s three sections, allowing for ample on-site tenant and visitor parking,” he says.

“And although the existing building possesses real character qualities, an astute developer will likely look to longer term aspirations to either redevelop, or completely transform the site and leverage from the benefit of MRA up-site and use, allowing for multi-storey developments, with height limits,” he says.

Mr Demaio says all buyers will be drawn to Midland’s excellent road, rail and community amenities, together with an established commercial and residential culture.

The site is open to offers from Monday 18 September and closes on Thursday 19 October.

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CENTRAL BUSINESS PARK OFFERS UNIQUE INVESTMENT OPPORTUNITY
As published in The West Australian – Wednesday, 2nd August 2017

The immaculately appointed, two-level, 1,418 sqm Webb & Brown-Neaves headquarters located at 129 Hasler Road, Osborne Park is up for sale, and open to offers.

According to Axia Corporate Property’s selling agent and investment sales director, Wayne Mitsikas, opportunities like this are a rarity in today’s compromised market.
“Located on one of the most prized thoroughfares in the Herdsman precinct, this high-quality, two-level office building ticks all the boxes for the most discerning property investor seeking a secure income stream and solid lease covenant in a pre-eminent suburban office community,” says Mr Mitsikas.

Constructed by PACT Construction around 10 years ago, the property, which is entirely leased by the luxury homes builder Webb & Brown-Neaves (a subsidiary of the ABN Group*) for the next four years, is located within the Herdsman Business Park precinct, sharing its address with high-profile names like Georgiou, Cannon, West Australian Newspapers, Ricoh and BGC, just 6kms from the Perth CBD.

Positioned on a land area of 2,177 sqm, the north-facing building, with excellent natural light, is 4-star NABERS rated, contains a generous parking allocation of around 59 vehicles.
“This unique property provides a unique blend of the most sought-after commercial design elements in a functional floor-plate layout, as well as excellent access to main transportation links,” says Mr Mitsikas.

Constructed of concrete footings and floors with the combination of extensive glazing and masonry elevations which, combined with the building’s set back, allows for excellent natural light infiltration.

Serviced by reverse-cycle air-conditioning at each level, the internal finishes include carpeted floors, painted gyprock portioned walls, suspended panel ceilings and recessed fluorescent lighting.

Mr Mitsikas says the property presents a guaranteed rental income stream complimented by programmed rental growth.

A proposed planning amendment is set to deliver the ability to a build 14 storey, mixed use development at the site.

129 Hasler Road is for sale by offers-to-purchase before 4pm Thursday 7 September 2017.
*The ABN Group is Australia’s leading combined construction, property and finance company, led by third-generation homes-builder, Dale Alcock.

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NORTH PERTH EMERGES AS RETAIL HOT-SPOT
As published in Business News – Monday, 3rd July 2017

Joining the likes of Leederville’s Oxford Street, Cottesloe’s Napoleon Street, Mt Lawley’s Beaufort Street and South Perth’s Angelo Street – North Perth’s buzzing Angove Street has become one of the city’s most sought-after retail addresses, mainly due to the increase in apartment buildings and its proximity to the CBD, along with the diversity of quality cafes, restaurants, bars and retail stores that sit on the funky suburban strip.

Rose on Angove, a five-storey apartment development located on the corners of Angove and Fitzgerald Streets, will see the addition of five retail stores on its ground floor – further boosting the precinct’s trendy lifestyle attributes.

Axia Corporate Property has been appointed to lease the ground-floor retail areas with a keen focus on the corner tenancy – an ideal fit for a quality restaurant or café operator according to Axia director, Adam Musbah.

“This is an exceptional development which will further underpin North Perth as a precinct that’s up there with the best,” Mr Musbah says.
“As demand has soared over the past few years, retail shops along Angove and Fitzgerald Streets have become increasingly difficult to come by and we’ve seen some of the best retailers, such as award-winning barista Anniston & Still, Milk’d, Old Laundry, Angove Street Collective, Satchmo Café and Florentino Patisserie, establish themselves in North Perth– and I can only see this trend gaining further momentum over time,” he says.

Mr Musbah says the demographic and density of North Perth, which was traditionally a more mature and gentrified sector, has evolved into a much younger crowd over the past 12 – 18 months.

“The younger generation are choosing North Perth as an aspirational suburb to live due to its growing number of cafes, restaurants and bars, and quirky retail offerings – as well as its proximity to the CBD and excellent public transport,” he says.

“These people are much more inclined go out and socialise away from their homes or apartments, and they’re certainly not afraid to spend their income on food and wine.”

Just in the past year, five apartment buildings, totalling over 150 dwellings, have been constructed within walking distance to Rose on Angove.

“Retailers, especially those in the food and beverage arenas, perceive the North Perth precinct as a prime location to complement their business vision,” Mr Musbah says.
“We have tenancies ranging from 65sqm to the larger corner tenancy of 250sqm which can be reduced or modified to suit the requirements of the tenancy.
“The corner tenancy, which will define the development and the precinct as both a day and night-time food and beverage outlet, will be in demand from operators; and we are already in detailed discussions with a handful of them,” Mr Musbah says.

Upon completion, Rose on Angove will comprise of 39 one- and two-bedroom apartments with only five currently remaining.

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INGLEWOOD SALE SETS BAR FOR YIELD AND DEVELOPMENT
As published in The West Australian – Wednesday, 26th July 2017

A recent and lucrative sale of a prominent Inglewood corner site on Beaufort Street represents a sub-four percent annual yield according to Axia Corporate Property sales executive, Franco Gangemi who procured the transaction earlier last month.

Sold off-market to a private investment group for over $2.6million, the 1,012 sqm site at 846 Beaufort Street houses four existing retail shops which will likely benefit from a major upgrade to the building as planned by the owners.

Experienced retail property investors, with a track record for refurbishing retail assets in WA, the new owners identified the area’s rich potential as a sought-after location by retailers and customers alike, together with the short- to medium-term upside of a refurbishment to the building and long-term view for a multi storey development.

Other attributes include the property’s location on a major arterial thoroughfare, just 4.3 kilometres from the CBD, and neighbouring Mt Lawley.

“Properties of this calibre on such a prominent retail strip, are actively sought, eagerly contested, and seldom offered,” says Mr Gangemi.

“This is an extremely tight-knit precinct, with many properties being held in generational ownership.

“The Inglewood precinct has proven its worth by the continual high volume of enquiry we receive from the operators seeking to procure premises in this high-growth catchment, with strong trading performance from a number of retailers,” he said.

Mr Gangemi says the site offers superb flexible mixed-use zoning with a number of multi- level developments having just been completed or awaiting council approval.

“Tenants are attracted to Inglewood by its excellent local amenity, low cost-base as opposed to neighbouring Mt Lawley and significant growth potential via continued development,” he says.

“The Inglewood end of Beaufort Street is becoming increasingly popular with emerging retailers and this can be reflected in some buildings we fully leased to some pioneering businesses in the retail arena recently, achieving average rents of $500 per square metre.”

Axia Corporate Property has also been appointed to project manage the refurbishment and asset management of 846 Beaufort Street, Inglewood.

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BALDIVIS SQUARE FORGES LINKS
As published in The West Australian – Friday, 17th of March 2017

Prime Group’s $30 million Baldivis Square shopping centre on Makybe Drive opens its doors on Monday.

The 6000sqm shopping centre, anchored by an IGA supermarket, has 16 specialty retailers, including a dentist and medical centre, and work on a childcare centre will start before the end of the year.

The centre is expected to transform the strip into a bustling, pedestrian-friendly meeting place with outdoor seating, bike racks, trees, landscaping and public art.
Prime Group managing director Joe Passione said the developer wanted to create a community focal point and had worked hard on creating open spaces and carefully selecting high-quality tenants.
Axia Commercial Property’s Adam Musbah said the neighbourhood centre was fully leased, apart from one contested restaurant space.

The centre has committed to creating an inner-city atmosphere with a strong emphasis on local community engagement. For example, Baldivis IGA owner Pat Rock said it was supporting local producers where possible, including Baldivis Fresh Eggs and local Peel District wines and WA craft beers.

Owner of the cafe, Brother of Mine, Jos Whettingsteel, who has worked with Jamie Oliver in Britain, will be working with Makybe Rise Primary School students to maintain the herb garden.
Baldivis, 46km south of Perth, was developed for residents in the 1990s and is one of the fastest growing suburban areas with a big proportion of young families and several new schools built in recent years. Stockland developed the first Baldivis residential estate, Settlers Hills, and opened Baldivis shopping centre in 2007.

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DEMAND FOR BALDIVIS SHOPPING CENTRE
As published in The West Australian – Wednesday, 31st August 2016

Less than five months from the opening, the new 5,500m2 Tuart Ridge Centre, Baldivis Shopping Centre is almost fully leased.

More than 70% of the shopping centre has been pre-committed with one of Perth’s most renowned IGA operators, and Celebrations Liquor taking pole position.

Situated adjacent to the Makybe Rise Primary School on the corner of Pharlap and Makybe Drive in the Baldivis suburb of Tuart Ridge and catering for a well-established catchment of over 30,000 residents, demand for the shopping centre has been overwhelming.

Whilst being located just 2km from the recently expanded Stockland Baldivis Shopping Centre, the Tuart Ridge Shopping Centre has been well received with anticipation from local residents and Tenant’s alike as a result to its convenient position and access to and from the centre, compared to other centres in Baldivis.

“As there are only a few shops remaining for Lease, we are confident the centre will be fully leased for the centre’s opening in December 2016” Axia Corporate Property Director Adam Musbah said. “The centre’s unique design incorporating a high street with public spaces will provide a vibrant and convenient seven day shopping and dining destination for the local residents. Mr Musbah added.

A call from local residents wanting a shopping centre with ease of convenience and access, within walking distance from their homes, local schools and childcare centre has been instrumental in the development and leasing phase.

Mr Musbah said “We envisage the demand for the balance of the remaining shops to be strong, together with the future trading performance of the centre, on the back of growth of the Baldivis, in particularly, South Baldivis and the call from local residents wanting a convenient shopping destination.

Upon completion the centre will boast a 1,500m2 IGA, over 3,000m2 of specialty shops and a Childcare Centre.

BALDIVIS ADDS ANOTHER CENTRE

Construction has commenced on the Tuart Ridge Town Centre in Baldivis.

Tuart Ridge Town Centre Shopping Centre will be situated on the corner of Makybe Drive and Pharlap Parade in the rapidly expanding suburb of Baldivis. The Centre is strategically positioned adjacent to the Makybe Rise Primary School which caters for 1,200 students in addition to a 120 place childcare centre.

The Centre will have a GLA of over 5,000 sqm anchored by a 1,500 sqm IGA, owned and operated by one of Perth’s most experienced and renowned supermarket operators. In addition, the Town Centre will comprise of over 20 specialty shops, with just over 40% already pre-committed prior to construction commencing. Master Planning and Project Leasing has been awarded to Axia Corporate Property. Mr Musbah said “we are pleased to be part of this project and have been overwhelmed with the strong response from retailers to be part of this Centre and the pre-commitments to date, and this is all before construction has even commenced!”. The Tuart Ridge Town Centre Shopping Centre is due for completion in the third quarter of 2016 with a scheduled opening prior to Christmas.

The balance of the remaining space is expected to lease quickly to a combination of restaurants, café, pharmacy, newsagency and general retail and service businesses.

Tuart Ridge Town Centre has a planned opening of late 2016, just over 18 months following the opening of the re-development and expansion of Stockland Baldivis. Mr Musbah added “We were very strategic in the Master Planning and the delivery timing of Tuart Ridge, identifying its position in Baldivis, in order to create its own identity with a focus on community, ownership, convenience and what makes a Town Centre work”. This has been reflected by the huge investment from the developer in the street scape with over 2 Million Dollars invested in landscaping, street art and public spaces.

Baldivis has a well-established population of approximately 20,000 residents and is predicted to exceed to 35,000 in the coming years.

HERDSMAN OFFICE MARKET UPDATE- NOW AVAILABLE FOR THE THIRD QUARTER OF 2015

Click Here to view the Herdsman Office Market Report- Third Quarter 2015


 

HERDSMAN OFFICE MARKET UPDATE – NOW AVAILABLE FOR THE FIRST QUARTER OF 2015

Click Here to view the Herdsman Office Market Update – First Quarter 2015


 

Ellenbrook Named Best in World!!!

Ellenbrook in Western Australia has been awarded the prestigious FIABCI World Prix d’Excellence Award for 2015, as the best master-planned community in the world by the International Real Estate Federation.

The Federation is represented in over 60 countries with its annual FIABCI Awards recognising projects that best embody excellence in all the real estate developers involved in its creation.

The public-private joint venture between the West Australian Government’s Housing Authority and a LWP Property Group Investment Syndicate celebrated its 20th birthday this year and Managing Director Danny Murphy, said the award win recognised Ellenbrook’s innovations and long-term success.

“From the very start, Ellenbrook has been able to adapt and respond to changes in housing preferences, community, technology and lifestyles.

“Through its many innovations, particularly in the areas of housing, community development, urban design and environmental management, Ellenbrook has maintained a leadership role and delivered a series of firsts for the West Australian and Australian development industry,” Mr Murphy said.

A testament to its success, Ellenbrook stands as Australia’s most awarded urban development project, with the World Prix D’Excellence Award the ‘icing on the cake’, according to Mr Murphy.

“We are extremely proud of what we have achieved here at Ellenbrook.”

“Our sustained commitment to delivering the founding project vision and objectives of a return to traditional neighbourhood planning; affordability; environmental sustainability; and community development has ensured we have created a great place to live, work and play,” Mr Murphy said.

The people of Ellenbrook agree, with Ellenbrook consistently one of Australia’s fastest selling residential estates over a 20 year period.

Ellenbrook will eventually be home to 35,000 residents and features a thriving town centre, an abundance of community facilities for all ages, 7 primary schools, 4 secondary schools, over 30 community groups and sporting clubs, 30km of walking trails, 10km of cycleways and almost 20 parks.

For further information, please contact Adam Musbah on 0488 780 780 or adamm@axiacp.com.au.

 


DOME COCKBURN CENTRAL… SUCCESS

The second stage of Giorgi Group’s Plaza 817 at the Cockburn Central has been snapped up by Dome Coffees Australia, occuping a brand new two level building spanning over 500m2, one of its largest in Western Australia.

Axia Corporate Property’s Leasing Executive, Franco Gangemi said the fitout for Dome was believed to have cost in excess of $1.7 million, indicating the company’s investment commitment to the area and wanting to capitalise on the growth that Cockburn has and will continue to experience. Securing Dome was the catalyst and the anchor of the retail component of this $30 million mixed use development. “We were seeking a tenant that would anchor the development and provide an amenity for the 2,500m2 of office space that had been fully occupied and a focal point for the Cockburn Central office occupants and residents alike”.

Other tenants and owner occupiers who have been quick to take up space in stage two of Plaza 817, include a 250m2 Australia Post Business Centre, international franchise, Crust Gourmet Pizza, Pasta Cup, Baskin & Robbins, Greg’s Discount Pharmacy and Specialized Bicycles.
Mr Gangemi said the rents achieved for the retail component of Plaza 817 were benchmarks for a development of this nature and the area. “The rental levels achieved are reflective of the growth of Cockburn and the trading strength that this area has to offer.” Mr Gangemi continued by saying, “We have been very selective with our tenancy mix, identifying retailers and service providers who will provide a combination of both day and night trading, and Dome played an integral part of this mix, to service the large number of office occupants and residents in the area and to create a dwell time offer for the development. All of this is integral in making a large mix use complex such as Plaza 817 viable’.

“The sales and leasing demand was extremely strong, firstly, as buyers were wanting to take advantage of the rare opportunity in owning a freehold commercial investment within Cockburn and knowing, from Giorgi Group’s reputation in delivering a quality product, the end result of the development. The Leasing demand was so strong, that we could have build this development three times over and there would still have been tenants who would have missed out in securing a Lease”.

Cockburn Central is one of Perth’s fastest growing suburbs strategically positioned along the shoulder of the Kwinana Freeway, adjacent to Cockburn Central Train Station and just 20km from the Perth CBD.

– as published in The West Australian, Wednesday, 24th April 2013 -

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