Bunnings Joondalup sold for $43.5m

Bunnings Joondalup sold for $43.5m

THE Bunnings Warehouse in Joondalup has been sold for $43.5 million.

The buyer was not disclosed but is believed to be a private investor based outside WA.

There were 14 offers to buy the Bunnings-owned property, which opened in 2014. It was the first Bunnings Warehouse property up for sale in WA for several years.

The property will now be leased back to Bunnings for the next 12 years, with an initial annual rent of $2.4 million.