$9.9m Sheffield sell

PERTH mall property Sheffield House has sold for $9.9 million to an undisclosed purc-haser. Sheffield House consists of two Hay Street Mall frontage properties, Guardian Pharmacy and the Perth medical centre, JB HiFi in the basement and three upper levels.The property is adjacent to the Toys R Us site and will benefit from the redevelopment of this site into Perth’s newest retail arcade.Selling agent Colliers Inter-national director commercial and retail sales, Ian Mickle said: “This property has significant potential for improvement for redevelopment of the upper levels. The yield of just over 7 per cent reflects the strong CBD retail market and the potential for redevelopment.”

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