21/08/2013 - 15:57

Harbour Town hits the market

21/08/2013 - 15:57

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Outlet shopping centre Harbour Town has been put up for sale, with the campaign to be managed by Jones Lang LaSalle.

The commercial agent’s Simon Rooney said he expected the centre, which is unique in the Perth retail sector, to stoke significant interest.

Harbourtown’s key international and Australian retailers include outlet stores from Esprit, Adidas, Cotton On, Jeans West, Levis, French Connection and Mimco. It is owned by Lend Lease-managed Australian Prime Property Fund, which bought the property from the ING Retail Property Fund in 2010 for $135 million.

The centre is at 79 per cent of leasing capacity, Mr Rooney said.

“The discount nature of outlet centres also means they are a resilient retail format, particularly during periods of cautious consumer behaviour,” he said.

“In terms of retail spending growth, Western Australia has been an outperforming market for some time now.

“The state’s strong rate of population growth is underpinning the local retail sector and the growth prospects for this centre are very positive.”

An expressions of interest campaign for the centre will close on September 26.

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