Subiaco complex The Colonnade sold for $38m

Hawaiian has sold Subiaco retail and office complex The Colonnade for $37.85 million, in a deal brokered jointly by JLL and Ray White Commercial.

Anchor tenanted by gold miners Northern Star Resources and Newmont Mining, the 8,175 square metre building had been on the market for more than a year, with Ray White’s Brett Wilkins and JLL’s Nicholas Agapitos and Nigel Freshwater appointed to run a sales campaign in May 2018.

Built in 1995, The Colonnade has a diverse income stream with retail tenancies and a Goodlife Health Club complementing the office component, as well as a nine-level car park operated by Wilson Parking.

The buyer’s identity was not disclosed.