01/09/2015 - 14:07

Peet finds partner for Shorehaven town centre

01/09/2015 - 14:07

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Peet has sold a half stake in its $200 million Shorehaven Coastal Village Centre in Alkimos, to an unnamed offshore buyer.

Peet finds partner for Shorehaven town centre
An artist's impression of the completed Shorehaven Coastal Village Centre.

Peet has sold a half stake in its $200 million Shorehaven Coastal Village Centre in Alkimos, to an unnamed offshore buyer.

Commercial terms of the transaction, brokered by Colliers International, or the identity of the buyer, were not disclosed.

Construction of the town centre development is expected to begin next year, with the first stage planned to open in late 2017.

Colliers International director of investment services, Ian Mickle, said the Coastal Village centre would comprise a shopping centre and more than 400 beachfront apartments, to be developed in stages.

Along with the 3,200 square metre Woolworths supermarket, the village centre will include 14 specialty stores, cafes and restaurants and a retail promenade along the beach.

Peet’s Shorehaven at Alkimos estate is well advanced, with 900 homesites already sold and 600 houses either complete or under construction.

The 243 hectare estate has 1.7 kilometres of beach frontage and 2,214 lots remaining in the construction pipeline.

“This will become an iconic coastal development for Western Australia, representing a place where people can live in close proximity to the beach, as well as shop and relax by the coast,” Mr Mickle said.

“This is a very exciting development and an example of the dynamic opportunities for investment in Perth’s northern corridor.”

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