Large format retail has been the standout asset class of 2025, with peak sales in the sector exceeding $240 million.
This represents a quarter of the almost $1 billion in major commercial property deals in Perth this year.
The top sale recorded by value was the divestment of Ikea at Osborne Park by GDI Property Group in June at $163.75 million.
GDI initially secured $143.5 million of assets in 2017, placing it in an unlisted fund.
Another standout deal in large format retail was the sale of Joondalup Gate by APIL to Sydney-based private equity group AshMorgan in August for $79 million.
At the time, Colliers WA chief executive Richard Cash said it confirmed the growing demand for high-quality large-format retail properties, particularly in metropolitan locations with growth potential.
The rise in popularity of these properties can be attributed to Western Australia's rapid population growth, relatively high wages and low unemployment rate.
This, coupled with the fact that there is limited new supply in the area, means that investors have been attracted to existing properties.
Property giants Centuria Capital Group and Nigel Satterlee are taking advantage of this low supply, with the purchase of a development site in Bungeup for $42.35 million in July.
The investors teamed up to acquire a seven-hectare site from Michael Oosterhof with the intention of developing a large-format retail center on the property.
strong field
Land development continues its strength, as demand for affordable housing increases in areas along transportation corridors.
However, with fragmented ownership of properties in key development areas, it is becoming challenging for developers to tie together properties.
In a rare deal, Stockland bought 123 hectares of land at Marginyup, near Bullsbrook, from a single owner, private investment company Squarcini Group, for $136.22 million.
Supermarkets have been in high demand this year, with many neighborhood retail centers changing hands.
The big ones include the Woolworths-anchored retail center at Victoria Park, which is under contract with Eastern States Buyer for $30 million.
Details about this transaction have not yet been revealed, but it follows an attempt by Nedlands' Greenpool Capital to buy the property from Vicinity Centers in 2024.
In April, Locus Property Group and Security Capital Australia entered into a joint venture to purchase Alkimos Gateway for $30.1 million.
The Cottesloe-based developer said it was attracted to the property because of its redevelopment potential, which has around 3,000 square meters of land around the centre.
Alkimos Gateway. Photo: Locus Property
Luxury apartments continue to attract strong demand from equity-rich downsizers.
Edge Visionary Living, which has been one of the most active players in the sector in recent years, purchased the South Perth development site for $33 million.
This sale price was a record for the area, $17,620/sq.m.
Harper of the Edge has been installed at the Swan Apartment development on a 1,873-hectare site, with construction scheduled to begin in early 2026.
The $34.1 million sale of the last remaining lot at Clermont Oval in March paved the way for Norup to revive the failed apartment development of Iris Residential on the 7,418-square-metre site.
The industrial sector also remains strong, although transactions have slowed slightly in 2025.
However, even with the strong demand for this asset class, this is due to the lack of available assets.
Some standout industrial deals include the purchase of two warehouses in Canning Vale by Centuria for $38.6 million and the purchase of the Bibra Lake property by Corval for $34.6 million.
There were also some extraordinary deals in the agriculture sector, with a large transaction worth nearly $400 million.
Last updated: 18 December 2025
Health and Hospitality
The purchase of Frasers Suites by the State Government in June was a shock to the market, but a relief to those on the social housing waiting list.
The $115.5 million transaction (recorded as $105 million, without GST at the time) paves the way for a 236-residential social and affordable housing development.
Marking the state government's largest investment in housing, the transaction was welcomed by seller Frasers Property, which has significantly reduced its WA footprint this year.
In Sorrento, the $31 million divestment of Quality Resorts to Goldfields Group was one of the most complex hotel deals of the year.
This is because it involved more than 50 individual owners as sellers, posing a challenge for brokering agent CBRE.
The health sector was also a popular asset class, with aged care provider Rocky Bay selling its Mosman Park facility to Curtin Heritage Living for $56 million.
The deal opened the area to potential residential development, with the state government approving the rezoning of the area.
Rocky Bay also sold a vacant block in Belmont, where it intended to build a new facility, for $13 million, raising doubts about where its headquarters would be located.
Charter Hall's $47 million acquisition of CliniPath in Osborne Park at the beginning of the year was one of the largest health care deals in the last 12 months.
30 to 35 Stirling Street. Photo: Michael O'Brien
Office
Perth's office market continued to struggle in 2025, with many properties coming onto the market and failing to transact.
One of the largest office deals in the city this year was the $30 million acquisition of 34 to 50 Stirling Street by the Public Transport Authority in August.
The building, which was once home to the Sunday Times newspaper, was purchased from NSW-based Eleanor Investors Group.
Last updated: 18 December 2025
