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Retail building on Claremont’s Bay View Terrace sells for $4 million

Colliers International sells retail building next to Claremont Quarter

The owners of Claremont Quarter, Hawaiian and Queensland Investment Corporation, have added to their Claremont footprint with the purchase of an historic building that shares a boundary with the western suburbs shopping centre.

In a transaction that settled on September 7, Hawaiian and QIC paid $4 million for the two-storey retail building on a 193sqm site at 21 Bay View Terrace.

The sale was negotiated by Colliers International’s Tory Packer and Ben Tana, who said the acquisition was part of a long-term plan to activate the corner of Bay View Terrace and St Quentin Avenue.

The partially leased 340sqm building has a 141.8sqm ground-floor tenancy and a 29.8sqm basement that was previously home to Witchery. It has a basement retail space with frontage to St Quentin Close and a rear level-one space that is leased until 2025 to established men’s fashion retailer Highs and Lows and a jeweller.

It also has a three-room consulting suite which includes a balcony overlooking Bay View Terrace that is leased to an osteopath.

Ms Packer said the sale of the Claremont property, which is nestled between Claremont Quarter and Bay View Terrace, generated strong interest and the building sold before the end of the campaign.

“This building occupies a prime location in the western suburbs and benefits from its strong exposure to foot traffic from Claremont Quarter, one of Perth’s premium fashion and retail shopping centres,” Ms Packer said.

The building has a town centre zoning and according to construction estimates, was built early in the 1920s.

Mr Tana said Claremont’s shopping precinct had a stronghold on local, national and international brands and its reputation as a prime retail destination ensured strong interest among commercial property investors.

“Claremont’s coastal location and its high level of amenity have also made it a key location for high-end infill apartment developments,” Mr Tana said.

“With 750 new homes being developed at LandCorp’s Claremont on the Park, which is only 200m from Bay View Terrace, there will also be a new supply of people visiting the retail precinct.”
 

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Tory Packer

Director

Investment Services

Perth

Tory has been in the commercial property business with Colliers International (WA) for over 11 years. 
Throughout this time, she has assisted in the sale and acquisition of over $200million worth of property for high profile clients, investment syndicates, corporations and government departments.


Tory has established herself as an experienced investment services expert in the Perth market, focusing on combining buyer engagement success and effective sales strategies to achieve optimal outcomes for her clients.
Her success is based on her market leading knowledge, comprehensive understanding of investment disposals and market reach throughout local, national and offshore markets.


In order to cultivate her track record, Tory spends time with buyers and sellers located interstate and offshore to present opportunities and establish relationships across the widest possible market. 
Tory is results driven and has established long-term partnerships with her clients, frequently exceeding her client’s expectations.

A sample of recent transactions completed by Tory include:
•105 Lord Street, Perth $21,000,000
•179 St Georges Terrace, Perth $18,250,000
•1101 Hay Street, West Perth $16,575,000
•Lots 37 & 38 Montario Quarter, Shenton Park $16,300,000
•100 Chisholm Cres, Kewdale $14,500,000
•592-616 Hay Street, Jolimont $13,000,000
•24 Chesterfield Rd, Mirrabooka $8,900,000
•15 Leila Street, Cannington $8,310,000
•7-41 Henderson St, Fremantle $8,250,000
•125-129 Murray Street, Perth $8,100,000
•20 Brown Street, East Perth $7,100,000

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