Hawaiian Acquires Forrestfield Marketplace and Forum

Hawaiian Acquires Forrestfield Marketplace and Forum

As part of its retail portfolio WA based property group Hawaiian has acquired Forrestfield Marketplace and Forum.

The centre encompasses 52 speciality shops, two major supermarkets; Coles (which will soon be refurbished), Woolworths and mini majors including The Reject Shop and BWS.

“We are excited to announce this new acquisition,” Chief Executive Russell Gibbs said.  “The centre has incredible potential and we look forward to applying the Hawaiian retail management model to it.”  

The property group’s retail portfolio now offers any shopper in a 20 kilometre radius of Perth city a Hawaiian owned and managed shopping centre, within a short drive. Other properties in the portfolio include Claremont Quarter, Carillon City, The Mezz in Mt Hawthorn, Melville Plaza and the recently redeveloped Hawaiian’s Bassendean shopping centre.

“Forrestfield is another step forward in the ongoing evolution of the Hawaiian brand,” Mr Gibbs added.  “This is a solid investment for the company; the position and size of the centre mean that Forrestfield was a natural choice for us in expanding our retail portfolio.”

“Forrestfield, along with our other suburban centres will undergo varying levels of work over the next 12 months to make them shopping centres that are not just the best in their class; they are also true community hubs.”

“This ties back to our company ethos of uniting business and people.”

A review of the centre will commence immediately to identify how the property will become recognisably Hawaiian and start to embrace the company’s ‘Third Place’ concept.  The sale of Forrestfield Marketplace and Forum was negotiated in an off-market transaction by Sean Flynn and Nigel Freshwater of JLL on behalf of Singaporean registered seller First United Developments Pty Ltd, which first acquired an interest in Forrestfield in 1997.

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