Byford Lakeside Plaza in Perth hits the market

Lakeside Plaza, situated in the growing Perth suburb of Byford, has been listed for sale.

Opening in December 2017, Lakeside Plaza is a 4,710 sqm neighbourhood shopping centre, situated in the heart of The Glades.

The award-winning master-planned residential community The Glades will be home to 10,000 residents. 

Located on the corner of Doley Road and Meade Street, on a 13,312 sqm site, the purpose-built centre is anchored by a 1,254sqm IGA supermarket with 19 specialty retailers, including a pharmacy, childcare centre, vet clinic and medical/dental centre. 

CBRE’s Richard Cash and Anthony Del Borrello, conjunctionally with Knight Frank’s Todd Schaffer and Rick McIntosh-Whyte, have been appointed to steer the sale process via Expressions of Interest. 

Mr Cash said Byford’s lifestyle appeal and population growth would underpin buyer interest. 

“With planning underway to extend the Armadale train line south to Byford, connectivity and accessibility to Perth will improve significantly and ultimately underpin continued population growth, which is forecasted to increase by 4.29% per annum till 2036,” Mr Cash said. 

Mr Schaffer added, “Investor demand for modern neighbourhood shopping centres remains robust, with four shopping centres having transacted and a further two currently under contract in the first half of 2019. Buyers continue to target convenience focused shopping centres in high growth catchment areas.” 

Lakeside Plaza is being offered for sale via expressions of interest closing July 18.