Lesmurdie Village Shopping Centre

35 Sanderson Road, Lesmurdie, Western Australia

The Property

Originally purchased with a neighbourhood shopping centre anchored by an IGA supermarket with a range of specialty tenancies serving the local community. Development of a new purpose built childcare facility was commenced after purchase and is expected to be completed in 2026. The centre provides a variety of essential retail and services and benefits from an established catchment with a loyal customer base in Perth’s eastern foothills. Lesmurdie is an established suburb with a stable population and strong household income demographics, supporting consistent demand for local convenience retail and essential services.

The Investment Opportunity

Sullivan Property Consultants acquired this property in 2021 through an established trust with active management and direct co-investment. Key features of this investment include:

• Value-add opportunity – The property was acquired with significant potential for capital growth, and in 2025 substantial development of a new purpose built childcare facility was undertaken. Continued and strategic renovation and upgrade of the existing improvements will continue to occur throughout 2026.
• Essential services retail – Anchored by an IGA supermarket with complementary specialty tenancies providing everyday goods and services, offering resilient income across economic cycles.
• Active asset management – Ongoing improvement to the leasing profile is expected to improve both rental income and capital value over the investment period.

Sullivan Property Consultants and related entities maintain an equity position in this syndicate alongside all investors and are invested in providing consistently strong performance of the asset.