46 / 152
PLAZA ARCADE
Located next to the David Jones
Building, Plaza Arcade is in the heart
of the city centre and sits on a
freehold site of approximately 26,221
sq ft. The property is one of two
main thoroughfares with entrances
at both Hay and Murray Street
Malls. Last renovated in 2006, it
comprises a three-storey heritage-
listed retail building with 20 specialty
tenancies. The property has a GLA of
approximately 36,731 sq ft
(1)
and was
94.1% occupied as at 30 June 2017.
The tenant mix is diversified,
comprising services, food &
beverage, fashion, shoes, jewellery
& accessories, giftware and mobile
shops. Established brands include
Surf Dive ‘n Ski
and Virgin Mobile. Most
leases at the property enjoy rental
upside from an annual upward-only
rent review.
PLAZA ARCADE ASSET
REDEVELOPMENT
The Murray Street Mall end of
Plaza Arcade is undergoing asset
redevelopment to create additional
retail space on the upper floor
and a revamped facade to house
an international tenant. The
approximately A$10 million asset
redevelopment commenced in 4Q
FY 2016/17 and is scheduled for
completion by early 2018. The new
international anchor tenant at Plaza
Arcade will complement Perth city
centre’s revitalised retail offerings
which includes a recently-opened
H&M city store and the upcoming
Forrest Chase and Raine Square
redevelopments. Together, these will
transform the area into a vibrant retail
hub in the heart of the city.
AUSTRALIA
PROPERTIES
PLAZA ARCADE
650 HAY STREET MALL &
185-191 MURRAY STREET MALL,
PERTH, AUSTRALIA
PLAZA
ARCADE
The asset redevelopment underway
will unveil a revamped facade and
additional retail area to accommodate
a new international retail tenant.
TENURE
FREEHOLD
(AS AT 30 JUN 2017)
TENANTS
20
GROSS LETTABLE AREA
36,731
SQ FT
(1)
PURCHASE PRICE
M
S$
61.0
(AS AT 30 JUN 2017)
MARKET VALUATION
M
S$
53.9
Note:
(1)
Includes new GLA of approximately 12,500 sq ft
which will be created upon completion of asset
redevelopment works at Plaza Arcade.
PLAZAARCADE
RETAIL TRADEMIX
BY GROSS RENTAL CONTRIBUTION
(AS AT 30 JUN 2017)
59.6
%
FASHION
1.8
%
JEWELLERY
& WATCHES
2.3
%
HEALTH &
BEAUTY
8.7
%
F&B
18.6
%
GENERAL
TRADE
9.0
%
SERVICES
44
STARHILL GLOBAL REIT ANNUAL REPORT FY 2016/17