Joondalup Gate LFR Centre - 57 Joondalup Drive, Edgewater_Property for Sale

57 Joondalup Drive, Edgewater, WA, 6027, AU

Joondalup Gate LFR Centre - 57 Joondalup Drive, Edgewater

Asset description

For Sale | Dominant Large Format Retail Centre on Significant Land Holding

Immediate and Long-term Development Upside in One of Perth’s Largest Satellite Cities

JLL and Colliers proudly present to the market Joondalup Gate, a premier large-format retail centre situated in Perth's bustling northern suburbs. 57 Joondalup Drive, Edgewater, WA.

This strategic asset offers a prime location, robust financial performance, and significant growth potential in one of Australia’s fastest-growing regions. Joondalup Gate is ideally positioned in Edgewater, Western Australia, just 24 km north of Perth CBD and 4 km south of Joondalup CBD.

Joondalup Gate boasts an impressive GLA of 24,682 sqm* and the centre is anchored by leading national retailers including BCF, Dan Murphy's, AMX Superstores, Revo Fitness, Freedom Furniture, and Early Settler.

With an estimated fully leased net income of $5.6 million per annum*, Joondalup Gate represents a compelling investment opportunity.

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Attributes

Building area net

265,675 sf

Land area gross

690,128 sf

Media

Investment highlights

Investment Highlights:

• Secure Investment: Fully leased Premium Large Format Retail (LFR) Centre.

• Landholding of Scale: 64,115 sqm* strategically positioned within the Joondalup Activity Centre. Zoning supports high-density mixed-use development with a minimum 20.5m development height and no prescribed maximum height limit.

• GLA: 24,682 sqm*.

• Dominant LFR Offering Secured by National Tenants: 67% of gross income secured by leading national retailers such as BCF, Dan Murphy’s, AMX Superstores, Revo Fitness, Freedom Furniture, and Early Settler.

• Fully Leased Net Income: $5,618,000 per annum.

• Strong LFR Spending Catchment: Projected to grow at an average rate of 3.2% per annum over the next two decades.

• Strong Rental Growth Outlook: Driven by a low average passing rent of $292/sqm pa gross.

• Significant Value-Add Opportunity: The site includes 6,210 sqm surplus land with frontage to Joondalup Drive and adjacent to Edgewater Train Station, offering potential for additional LFR or high-density mixed-use development (STCA).

• Thriving Growth Catchment: servicing a total trade area population of 452,964 persons, with a Main Trade Area average household income 7.1% above the Perth metro average².

• Excellent Tenant Retention: Boasting an impressive average tenant tenure of 7.8 years¹ rising to an average of 11.1 years¹ based on the current lease expiry profile.

Offered for sale via Expressions of Interest closing on Tuesday, 25th March 2025 at 2:00pm (AWST).

*All figures are approximate.

1 Estimated as at 1 July 2025.

2 Trade area data as per LocationIQ, Joondalup Gate, February 2025.

^ Property boundary outline indicative only.

STCA Subject to Council Approval