The Retail Wrap
AUSTRALIA (Q4 2024) - February 2025
Introduction
Welcome to RWC WA’s Retail Wrap report for the quarter ending 31 December 2024.
Presenting the third edition of our Retail Wrap report. The Western Australian retail property market in 2024 proved to be robust and positive across each of the asset classes assessed in this report with consistent transaction levels in Q4 of 2024 paving the way for a positive and hopeful 2025.
Each of the asset classes recorded 1-2 transactions over the quarter, with the exception of Fast Food assets. This consistency indicates continued demand by investors for assets backed by strong lease covenants.
Fast Food assets proved to be the most tightly held asset class with only two transactions taking place over the whole year and more specifically occurring in Q1 of 2024. Similarly, only three Large Format Retail assets changed hands for the year.
On the other hand, the year saw a significant volume of Shopping Centre and Childcare Centre transactions, with 11 sales of each taking place throughout 2024.
Interest rate uncertainty has alleviated with the recent announcement from the RBA indicating a pull back in inflation. With this notice it is widely expected that the RBA will cut back on interest rates which is set to further boost investor sentiment and activity. With this in mind, we expect a continued demand for favorable leased retail assets in Q1 of 2025 and through the remainder of the year.
Brett Wilkins Director of Capital Markets
Stephen Harrison Joint Managing Director
Andrew Woodley-Page Capital Markets
Michael Milne Senior Commercial Property Advisor
Childcare
Fast food Service stations
Shopping centres
Healthcare
Large format retail
Shopping centres
*The sale represents a 50% stake.
Lakeside Joondalup Shopping Centre
Claremont Quarter
Clarkson Shopping Centre
Usher Medical Centre
Belridge Medical Centre
Large format retail
Joondalup
Retravision
Bed n Dreams & Jaycar Joondalup
7-Eleven Dalyellup
United Anketell
7-Eleven East Bunbury
Fast food
Red Rooster Joondalup
Hungry Jacks Yanchep McDonalds Yanchep
Childcare
Bush Kids, Busselton
Bilingual by Five, Canning Vale
Great Beginnings, Yanchep
RWC WA
If you would like to discuss the market or what your property might be worth, get in touch with us.
Brett
Wilkins Director of Capital Markets
RWC WA
Andrew Woodley-Page Capital Markets
RWC WA
Collaboration and support
Mario Garbin Analyst/Licensed Valuer
RWC WA
Stephen Harrison
Joint Managing Director
RWC WA
Michael
Milne Senior Commercial Property Advisor
RWC WA
Aditi Rathore Graphic Designer
RWC WA
