Primewest's $26.5 million purchase of Caversham Village Shopping Centre has cleared the decks for the second stage of the Caversham Village commercial precinct.
Western Corporate, project managers for Taylor Private Estate Caversham Village, supervised the construction of the 4800sqm shopping centre, designed by architects Hodge Collard Preston and built by Focus Building Company.
Western Corporate general manager Rod Dixon said part two included a childcare centre, a medical centre and mediurn-density housing over more than 2ha.
"Despite a challenging economic environment, there is very strong confidence in the Caversham area," Mr Dixon said. "It is... an aspirational suburb with a large number of second and third homebuyers.
The sale of the shopping centre highlights this confidence.''
The shopping centre, including a Coles supermarket, a Liquorland and 10 specialty stores, was leased by Lease Equity and opened in April.
The sale was brokered off market by Alliance Commercial director Jonn Zafiropoulos, yielding 6 per cent to Primewest. Caversham is 18km from the CBD.