Centuria completes Ellenbrook LFR development

$27.5 million multi-stage Perth-based project

With limited new supply of Large Format Retail (LFR) centres nationwide and significant rental growth across the sector, Centuria’s experienced inhouse Retail Development team has announced the completion of its multi-staged Ellenbrook development, which is already 100% occupied and providing a healthy 7.62-year WALE.

The c. 8,640 sqm¹ , three-staged development, located at 186 The Promenade, Ellenbrook WA, completed after a five-year development and construction period. We successfully partnered with national builder, Renascent, for development of the c.1.8 ha site. The precinct is home to iconic national and international retailers as well as food and beverage providers.

Work on the first stage of the development commenced in November 2021, providing three fast food pad sites with KFC and Taco Bell outlets opening operations in mid-2022 and Hungry Jacks mid-2023. Stage 2 was leased on a single tenancy to Revo Fitness, which began operating in mid-2024. The final stage completed in May 2025 with tenants including Starbucks and Thirsty Camel, opening operations that year and Prime (Prime Products), Revo Gold, Supplement Mart and Battery World opening early-mid 2026.

Andre Bali, Centuria Head of Development, said, “During this development period we overcame obstacles arising from COVID, labour constraints and supply issues to deliver a retail precinct in high demand from blue-chip tenant customers.

“Since development commenced, the sector’s supply-demand imbalance has widened with new LFR floorspace reaching a 10-year low in 2025, resulting in a tight national vacancy of 3.1% in 2024/2025². Subsequently, national LFR rents have risen 21% since COVID, currently averaging $365/sqm, with further rental growth anticipated due to persistent, strong tenant demand, limited new supply and population growth.”

Ellenbrook sits within one of WA’s fastest-growing³ and most-awarded master-planned communities⁴. It is home to 50,000+ residents and its population forecast to grow 29% by 2033⁵. This burgeoning growth is anticipated to positively impact demand for LFR retail outlets.

The area is well connected via the recently opened Metronet Morley–Ellenbrook rail line with Ellenbrook Station in close proximity to the site. The centre is also easily accessible via the Tonkin Highway extension.

1. Gross Lettable Area (GLA) as verified by June 2026 Val
2. Source: CBRE Large Format Retail Markets Research Report
3. Source: City of Swan
4. Source: Property Council of Australia.
5. Source: City of Swan, Investment focus Ellenbrook