Sale of CBD landmark London Court changes hands in once-in-a-generation opportunity

Perth – Perth’s iconic London Court has changed hands for the first time in more than seven decades, with the landmark CBD property being taken to market in a global campaign led by Ian Mickle.

Held by a private family since the 1950s, the heritage Tudor-style retail lane occupies a prime location in the heart of the city and has provided a key link between St George’s Terrace and the Hay Street Mall for more than 80 years.

“London Court has stood as a unique and much-loved landmark in the Perth CBD for more than eight decades, and in all that time has had just two owners,” said Cygnet West’s (formerly known as Colliers WA) Director of Agency Ian Mickle.

“The opportunity to secure a 100 per cent freehold interest in one of Australia’s finest CBD retail properties attracted keen interest – both from high net worth and family office buyers nationally, and from the fraternity of global investors who seek out premier heritage retail assets around the world.”

Constructed by prominent Western Australian mining entrepreneur Claude De Bernales in 1937 to accommodate retail, office and residential tenants, London Court has been refurbished numerous times over the decades and recently underwent major façade upgrades.

The asset, which occupies a 1,712sqm CBD footprint, comprises four levels plus basement, with a gross building area of over 3,021sqm. Originally home to 53 shops, 55 offices and 24 residential flats, it today provides basement level retail & workshop, 34 mall level shops and 57 commercial and office tenancies over 3 levels above the arcade.

The buyer is a high net worth private investor who does not intend to make any significant changes to the asset.

“As an investment destination, WA is a beacon on the world stage thanks to our ability to withstand the impacts of the COVID pandemic and our strong economic performance.

“We have managed the asset for 70 years and are delighted to have been appointed to continue the partnership for the incoming buyer for property management, leasing, marketing and facilities management”