Lease Equity Latest News - October 2006

Oct 5th, 2006

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2006 has been a fantastic year for Lease Equity, our clients, and the Western Australian economy as a whole.

We have seen excellent growth across our portfolio and the trend is expected to continue.

Lease Equity has completed the refurbishment of Plaza Arcade, ensuring Perth’s number one pedestrian traffic arcade retains its status in CDB retail. With new and exciting retailers, the revitalised centre is attracting fashion conscious shoppers, with the convenience of being situated in a prime location.

Cockburn Gateway Shopping City has almost completed Phase One of the redevelopment which is scheduled to open in November 2006. Phase Two is now underway and will introduce a Big W Discount Department Store, Best & Less and an additional 70 specialty stores.

Southern River Shopping Centre, which includes a new Coles Supermarket, is successfully trading, with Buggles Child Care due to open next year. Stage Two of the showrooms development at the centre is over 50% committed and Stage Three construction has commenced, adding a further 3000sqm of showroom area.

Stage One of the Waterford Plaza redevelopment is well advanced with the new High Street almost completed and due to open October 2006. The latest format Coles Supermarket extension is well advanced and will be completed in time for Christmas, as will the remainder of building works.

The refurbishment of the tavern and drive through bottle shop at Tudor Arcade in Armadale is almost complete and the refurbishment of the Corfield Shopping Centre, Gosnells has commenced with an excellent response from locals, which has seen a strong increase in trade for IGA and surrounding specialties.

The Belmont Forum Food Court redevelopment is progressing well, with only one shop not pre-committed as at the date of writing, while the food court at Wanneroo Markets has opened its new Subway store, with remainder of the development to be completed in October.

The new Brooks Gardens Shopping Centre in Albany has its Woolworths Supermarket opening in October and Secret Harbour Shopping Centre’s fit-outs are commencing in November in preparation for its grand opening on December 1 2006.

The new development at Mainstreet Ellenbrook has only one shop remaining in Stage One, with Stage Two beginning in early 2007, adding a further 1,600sqm of retail space. Many retailers have already pre-committed to this in order to avoid missing out.

The newly named Kelmscott Plaza has experienced enormous interest following the refurbishment of the Woolworths Supermarket and its fresh new look. The local community will benefit from a more sociable experience whilst shopping, with fit-outs almost complete at the new Kelmscott Bakery and Café, Subway, and Yummy Noodle Box stores.

In addition to these developments, Lease Equity is proud to have been appointed to leasing and management roles at South Fremantle Marketplace, Belridge Shopping Centre and most recently, Warnbro Fair Shopping Centre.

Lease Equity is also proud to have become the Retail Property Partner of the Property Council of Australia (WA) for 2006-07. This partnership will continue to strengthen our position as the industry leader in the Perth market and allows us to add even greater value to our clients’ properties.

In conjunction with the Property Council, Lease Equity undertook the 2006 Perth CBD Pedestrian Survey with some excellent results. A copy of the results is available on our website and can be downloaded by clicking here or visiting our home page.

The Lease Equity team continued to grow in line with the business with the addition of Greg Radin in the role of Sales and Leasing Director, and the promotion of Andrew Pratt to the role of Asset Management Director. We would also like to welcome the addition of Brett Gerloff, Natalie Upson, Bernice Crawford-Fisher, Caroline Greedy and Emma Wheatley to the team. We are looking forward to additional appointments to be made very soon.

To compliment the growth in our business, we have also upgraded our website which is now far more functional, easy to use and provides in-depth information on how we can assist you add value to your property.

As always, we welcome any comments or queries from our clients and others who may be interested in finding out more on what Lease Equity has to offer.

Please feel welcome to contact us on (08) 9426 1777, or click here to send us an email with your question and a representative will attend to you promptly.

Best Wishes,

Jim Tsagalis

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