This sale marks a pivotal moment for the heritage-listed property, which sits at the heart of Fremantle’s bustling Cappuccino Strip. With its Federation-era façade spanning 56 metres* and a sprawling 2,831 sqm* footprint with a Net Lettable Area of 2,924 sqm*, The Piazza has long been a cornerstone of the city’s retail and entertainment precinct.
The site’s potential has not gone unnoticed. According to Ben Younger, Director and Joint Head of Capital Markets WA at Cushman & Wakefield who sold the asset with colleagues Nick Charlton and Zaahen Kahn, “The Piazza showcases exceptional flexibility for future development. Its scale and location allow for a wide range of adaptive reuses - from boutique hotel or hostel accommodation to residential, retail, office, education or entertainment offerings.”
The property currently comprises 36 tenancies and generates a net income of $182,444 (35% leased), but its true value lies in its redevelopment potential. Concept plans have been explored for a boutique hotel with, a hybrid hostel model, and even multi-residential apartments—all while preserving the heritage character of the original 1902 Manning Building.
The purchaser is looking to fully renovate the buildings to create a fully activated community retail precinct
Nick Charlton, Director and Joint Head of Capital Markets WA at Cushman & Wakefield, noted the strong market response: “We saw significant interest in The Piazza from a diverse range of local and interstate groups. Fremantle’s ongoing revitalisation and the site’s strategic location made it a standout opportunity.”
The sale comes amid a broader wave of investment in Fremantle, with over $1.3 billion in public and private projects either completed or underway.
“As the city continues to evolve into a vibrant, mixed-use destination, The Piazza is poised to play a central role in shaping its next chapter. This transaction is more than a property deal - it’s a signal of confidence in Fremantle’s future” said Mr Younger.
