Perth’s Malaga Markets hits the market

Malaga Markets, a Perth institution since 1994 with its fruit and veg stalls and international food hall, has hit the market.

It has a price guide of $11.99 million.
 
The property at 7 Bonner Drive in Malaga comes with 2,900sqm of building area and a 2,256sqm net leasable area.

On Beach Road and just off of Alexander Road, it also provides external car parking of around 375 bays. 
 
The property is being marketed and sold by Ray White Commercial (WA) Property Advisor Brett Wilkins.
 
Mr Wilkins said Malaga Markets has over 1.5 million visitors annually.

“Malaga Markets is a purpose-built variety market with 65 tenancies, a strong trading history since 1994, and is on a prime site.

“The central core of the markets is the food court and fresh food tenancies backed by the bar and daily entertainment," Mr Wilkins said.

The houses tenants have occupied their tenancies for 15 years or more with an average of 7.1 years.
 
“Malaga is an inner northern suburb of Perth centered on showrooms and commercial strips.

“The total site area is 18,208sqm with wide frontages to Bonner Drive and Beach Road, together with cross easement access from adjoining sites.”