Perdaman spends $20m on The Village at Margs

Business News

3rd April 2019.

Vikas Rambal’s Perdaman Industries has continued its march on retail property, adding a third shopping centre to its portfolio through the $20 million acquisition of The Village at Margs.

Perdaman acquired the 7,233 square metre centre, which is anchored by a Woolworths supermarket and is located just off the busy Margaret River shopping strip, from Sirona Capital.

The deal was brokered jointly by CBRE and Colliers International.

“The Village Margaret River campaign was hotly contested by a number of local, national and offshore bidders with a total of nine offers received,” said CBRE state director of retail investments, Richard Cash.

“The transaction conveyed the continued demand for WA regional shopping centres with long leases to anchor tenants.”

Sirona Capital acquired the centre in 2015 for $18 million, from Woolworths’ property development arm, Fabcot Pty Ltd, which spent $30 million in 2012 buying the centre, according to RP Data.

The $20 million transaction price equates to a building rate of $3,507 per square metre.

Sirona appointed CBRE and Colliers to market the property in September last year.

Perdaman now has two regional shopping centres in its portfolio, adding The Village to its Northam Boulevard.

The diversified industrial group also owns the Port Coogee Shopping Centre.

Mr Rambal welcomed the new addition to the Perdaman Commercial Property Group portfolio, citing his strong interest in supporting and investing in local communities.