DEXUS Property Group is assessing its options for a revamp of Carillon City, after paying $140 million to buy the CBD shopping arcade.
The acquisition is Dexus’s first retail investment in Western Australia, with the property to fit into the Dexus Wholesale Property Fund.
The mall is anchored by Topshop Topman and features 108 tenancies across 10,700 square metres of retail space.
DWPF purchased the property from joint owners Hawaiian and Brookfield Property Partners.
Fund manager Michael Sheffield said the property represented a value-add opportunity.
“The acquisition fits well with DWPF’s strategy and enhances the retail portfolio by diversifying across a range of shopping centre types and markets,” he said.
The Dexus Perth commercial property portfolio includes Woodside Plaza, Kings Square 1,2 and 3, and a 50 Per cent stake in Alluvion, as well as the office tower at the Carillon arcade.
