The Perth Markets Ltd (PML), a private entity is responsible for the ownership and management of Market City. The asset, developed in 1989 is situated on 51 hectares of land at Canning Vale, 16km south of the CBD of Perth, the capital city of Western Australia.
Market City plays a critical role in the marketing and distribution of fresh produce in the State. Over $638M (AUD) worth of fresh produce is traded annually through the Central Trading Area (CTA) of the markets. In addition significant sales are carried out by tenants to the major supermarkets and through interstate and international trade.
The CTA is currently fully leased with few vacancies in the commercial area and warehouses. The site occupancy rate is over 99% on a total net lettable building area of 81,550m2. There remains 12 hectares of the site that is undeveloped at this stage.