Carillon City Centre is a four level retail arcade with 140 specialty shops topped by 14 levels of office space.
Carillon City Centre, a busy retail and commercial complex in Perth’s CBD, has been sold for $140 million. The vendors were Brookfield Australia Property Trust, part of Brookfield Multiplex Group, and Hawaiian Investments Pty Ltd, a company owned by Malaysian interests connected with Chiu Chi Wen. The sale was facilitated by Simon Rooney of JLL Perth.
The buyer was Dexus Property Group, which was formed in 2004 by combining units in three listed trusts and some unlisted funds then managed by Deutsche Bank. It has since become one of the major players in the Australian commercial, retail and industrial property markets.
According to Perth Cityscope, Carillon City Centre consists of a four-level retail arcade with 140 specialty shops topped by 14 levels of office space known as Carillon City Office Tower. The centre has a net lettable area of just over 16,000 sqm and is the result of a $3 million amalgamation of the former Carillon and City Arcades in 1999. Some of the major retail tenants include Topshop Topman, RM Williams, and Angus & Coote, with Brookfield Multiplex, Perth Fashion Festival and the Indigenous Land Corporation amongst the commercial tenants. Carillon City Centre is connected to adjoining retail centres, including Myer and David Jones, with frontage to the busy pedestrian access areas of Murray Street, Hay Street Mall, and Forrest Place Mall.
This sale reportedly was struck on an initial passing yield of 5.47%. The property previously traded in two half-shares at $23.1 million in 1993 and $48.43 million in 2003.