West Perth store sold for $2.3m

A West Perth building that formerly housed Thompsons fashion retailer has been sold for $2.3 million, changing ownership for the first time in almost a century.

Thompson’s Frock Shop on 1263-1267 Hay Street was operated by four generations of the Beard family, who owned the property.

RP data shows the site was owned by Douglas Lea Rowe, Digby John Beard, Jennifer Heath Rankin, Barbara Jean Holt and Mary Heath Egerton-Warburton.

The Beard family sold the West Perth property to syndicate TJS Advisory, led by managing director and former Knight Frank Australia senior director Todd Schaffer.

Cygnet West commercial agency partner Tory Packer brokered the $2.3 million deal, which marks the first time in nearly a century that the building is under new ownership.

TJS Advisory intends to comprehensively refurbish and reactivate the building, according to Cygnet West.

“It was a pleasure working with the seller on this landmark West Perth property which has such a rich history,” Ms Packer said.

“We’re pleased to have secured an outcome which will see this building completely renovated by a buyer committed to revitalising West Perth.

“There was interest in the property due to its prime Hay Street position and the opportunity to be part of the revival of this central West Perth location.

“We are seeing strong appetite among investors to secure quality landholdings with refurbishment potential in city-fringe areas.

“With recent positive absorption in West Perth office space, the buyer recognises the value in securing properties such as this one to capitalise on upcoming growth in the precinct.”

Thompson’s Frock Shop closed early last year after experiencing supply chain issues and dwindling number of customers because of the COVID-19 pandemic.