Western Australia’s (WA) government has announced the sale of Perth’s fruit and vegetable wholesale site, Market City.
The five shortlisted bidders have been announced, with Kerry Stokes’ Australian Capital Equity, Dexus Funds Management, Propertylink, Stockland Trust Management and the Chamber of Fruit and Vegetable Industries in Western Australia all taking an interest.
Part of the sale requires a commitment from the bidders to sustain the long-term operations of the market, which trades more than 200,000 tonnes of fresh produce each year at the Canning Vale site.
“The sale of Market City is on track for completion as planned in early 2016, with a number of key milestones already met,” WA treasurer Mike Nahan said. "We are confident the shortlisted bidders will have the ability to deliver an outcome that benefits both the industry and the people of WA.”
The market is managed and owned by the Perth Market Authority, with the state government announcement in August last year that it would sell of state assets to reduce Western Australia’s debt.