OFF MARKET

931 Whitfords Avenue
Woodvale WA 6026

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Land area: 27235m2
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Property Details for 931 Whitfords Ave, Woodvale

Building Type
Commercial
Land Size
27235m2
Local Government
Joondalup
Lot/Plan
66/P049368

Last Listing description (November 2023)

JLL is privileged to present the exceptional opportunity to purchase Woodvale Boulevard, a dominant supermarket-anchored neighbourhood centre located within the affluent Woodvale-Kingsley catchment, 18.5 km* north of Perth CBD.

The Centre is situated on a 27,229 sqm* landholding, anchored by a strong-performing Woolworths supermarket, trading 19.5% above the Urbis benchmark. With options to 2067, the supermarket is supported by a daily-needs specialty mix comprising food & beverage, gym, health, and medical tenants, which underpin an attractive specialty occupancy rate of 9.3%.

Woodvale Boulevard enjoys a desirable location at the intersection of Woodvale and Kingsley, situated in the vibrant heart of Perth's northern suburbs. The centre services an affluent catchment of 54,2483 residents in the main trade area (MTA) with a significant average household income of $121,446.

Key investment highlights include:

- Anchored by a dominant Woolworths supermarket, trading 19.5% above the Urbish benchmark and paying percentage rent.
- High performing convenience centre with a desirable daily needs specialty tenancy mix and a low average specialty occupancy cost ratio of 9.3%.
- Value upside through average specialty gross rent currently at $884/sqm, 16.2% below the Urbis benchmark.
- Located within an affluent trade area with an average household income of $121,446, 6.2% above the Western Australian average (LocationIQ).
- Forecast retail expenditure growth of 2.7% over a 20-year period, supporting the centre's performance with retail sales growth for Western Australia consistently outperforming the national average (LocationIQ).

*All figures are approximate

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Property History for 931 Whitfords Ave, Woodvale, WA 6026

A timeline of how this property has performed in the market
Last Sold
$36,500,000
11 Aug 2023
Listed for Rent
$856/w
01 Jun 2023
  • 11 Aug 2023
    Sold for $36,500,000
  • 10 May 2023
    Listed for Sale Contact agent
  • 24 Feb 2023
    Listed for Rent - Price not available
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About Woodvale 6026

The size of Woodvale is approximately 7.4 square kilometres. It has 12 parks covering nearly 45.2% of total area. The population of Woodvale in 2011 was 9,202 people. By 2016 the population was 9,287 showing a population growth of 0.9% in the area during that time. The predominant age group in Woodvale is 50-59 years. Households in Woodvale are primarily couples with children and are likely to be repaying $3000 - $3999 per month on mortgage repayments. In general, people in Woodvale work in a professional occupation. In 2011, 88% of the homes in Woodvale were owner-occupied compared with 87.7% in 2016.

Woodvale has 4,159 properties. Over the last 5 years, Houses in Woodvale have seen a 64.74% increase in median value, while Units have seen a 102.32% increase. As at 31 July 2024:

  • The median value for Houses in Woodvale is $996,073 while the median value for Units is $511,783.
  • Houses have a median rent of $750 while Units have a median rent of $445.
There are currently 9 properties listed for sale, and no properties listed for rent in Woodvale on OnTheHouse. According to CoreLogic's data, 120 properties were sold in the past 12 months in Woodvale.

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