In a strong demonstration of investor confidence in Western Australia’s retail market, Silverleaf Investments has acquired the landmark property at 26 South Terrace, Fremantle for $7,650,000, from Yolk Piazza 21 Pty Ltd, reflecting a sharp sales yield of 5.89%.
The property, home to Timezone since 1981, occupies a prime 947 sqm site* with 879 sqm* of Net Lettable Area in the heart of Fremantle’s bustling entertainment and retail precinct.
With a long-term lease in place to The Entertainment and Education Group (TEEG), the asset offers secure income and significant redevelopment potential.
Sold through Ben Younger, Nick Charlton and Zaahen Kahn of Cushman & Wakefield, the campaign attracted exceptional interest from investors nationwide.
Mr Charlton said
“The campaign generated strong investor interest, with over 180 enquiries and six formal offers. This result underscores the strength of Fremantle’s market and the appeal of blue-chip retail investments with long-term covenants.”
This transaction follows the recent sale of the adjoining property, The Piazza at 36 South Terrace, which Cushman & Wakefield sold in September for $12,500,000. The Piazza is currently undergoing a major re-leasing campaign and refurbishment to transform the asset into a fully activated community retail precinct.
Mr Younger added
“The sale highlights Fremantle’s ongoing renaissance, supported by major infrastructure and hospitality developments, and reinforces its position as one of WA’s most vibrant commercial hubs”.
Fremantle is experiencing a significant upswing, with more than $900 million in private investment recently completed, currently under construction or planned. Major living projects that will dramatically increase daily patronage for Fremantle include Silverleaf Investments recently completed Garde Hotel (83 rooms), Fiveight’s proposed 150-room Spicers Hotel, Prendiville’s soon to commence construction pod-style Urban Haven hotel (193 beds), EVT-owned Lylo brand Essex Street redevelopment into an 80 room, with 247 pods, Human–Urban’s Elder Place mixed-use redevelopment at the Elders Wool Stores site, Marprop’s approved co-living and micro-hotel complex, and Sirona Urban’s planned student accommodation project.
Public investment is also accelerating Fremantle’s transformation. The City of Fremantle has advanced major upgrades to the port precinct, including $88 million in government funding for refurbishment works supporting the long-term port relocation strategy to Kwinana and the $140 million development of the new Fremantle District Police Station, further strengthening the CBD’s infrastructure and future growth potential.
The return of Fremantle’s cruise season is driving a surge in visitation, with more than 26 ships expected this summer and forecast to inject over $142 million into Western Australia’s economy. Investors are clearly positioning themselves to capture this momentum, and well-located assets like 26 South Terrace are poised to benefit.
*Approx.
