02/09/2020 - 16:01

National retailer lands in WA

02/09/2020 - 16:01

Bookmark

Save articles for future reference.

Property syndicate Quadrant Investments has secured Sydney Tools as a tenant at its Malaga premises, marking the industrial power tool retailer’s initial foray into Western Australia.

National retailer lands in WA
Sydney Tools will launch its WA flagship store in Malaga.

Property syndicate Quadrant Investments has secured Sydney Tools as a tenant at its Malaga premises, marking the industrial power tool retailer’s initial foray into Western Australia.

Sydney Tools has signed a seven-year lease for a 1,960 square metre property at 1968 Beach Road in Malaga.  

The asset sits within Quadrant Investments’ Large Format Retail Trust No.1, which comprises a portfolio of about 19,000sqm of large format retail assets in Malaga.

The deal was brokered by Altegra Property Group agent Malcolm Healey, who said Malaga was an underrated market within the northern Perth corridor with an estimated main trade catchment of about 245,000 people.

“As WA emerges from the lockdown restrictions, businesses have been showing renewed confidence to transact in the market and there has been a spike in both sales and leasing activity, which is highly encouraging,” he said.

“The addition of Sydney Tools and the new 4WD Supa Centre, in a separate deal with another land owner at 1944-1948 Beach Road, totals over 4,200 square metres in new absorption and shows the strength and belief in the centrally located, well connected Malaga market.”

Sydney Tools has stores across New South Wales, Victoria, Queensland and the Northern Territory, its new flagship WA store will be its 41st, located opposite Bunnings Warehouse at the junction of Beach Road and Malaga Drive. 

Sydney Tools director Jason Bey said the group had been eyeing Perth for the past 10 or so years and had previously serviced the WA market through its online store, since receiving many enquiries to establish a physical presence.

Mr Bey expected the Malaga outlet to employ about 15-20 people and said more WA stores was on the cards for Sydney Tools.

“WA is on the verge of a mining boom… we certainly want to be in the WA market to be able to service that and capitalise on it,” he said.

“Malaga has a good element of trade and industrial in the immediate area. The building is in a prime location with good parking, easy access and the size of the building allows us to showcase our full offering.”

Quadrant Investments chief investment officer Phil Fogliani said the recent completion of the Northlink extension to Tonkin Highway had enhanced the property’s locality by further improving efficient access from extended catchment areas.

“The future completion of the Malaga Train and Bus Interchange Station as part of Metronet’s Morley-Ellenbrook Rail Line will provide the unique addition of convenient public transport to the Large Format Retail and Industrial market,” Mr Fogliani said.  

Other tenants at Quadrant's assets under the group's retail trust include Kitchen Warehouse, Beacon Lighting, Forty Winks and West Coast Hifi. 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options