New Chapter for Perth Markets

New Chapter for Perth Markets

Perth Markets Limited Chairman Paul Omodei is pleased to confirm PML has today exchanged contracts with the State Government for the sale of Market City.

The sale process now moves into its final stage, with settlement and transfer of ownership to PML to take place on 31 March 2016.

The execution of the sale contract comes after PML, an industry-based consortium of wholesalers, growers, retailers, Market City tenants and state-based market operators, was announced by the State Government as the preferred bidder for the Canning Vale site in December.

Mr Omodei said the consortium was delighted to have reached a major milestone in the sale process.

“Today marks the beginning of a new chapter in the history of our city’s market, which has played a crucial role in supplying fresh produce to Western Australians for more than 90 years,” he said.

“In a competitive tendering process that was open to national and international bidders, it is very pleasing that PML was able to structure a proposal that was deemed by the Evaluation Panel to be superior to those from other bidders.”

“As people who live and breathe the fresh produce industry, we are excited about the opportunities that lie ahead.”

Mr Omodei said PML’s immediate priority following settlement would be to ensure a smooth transition from public to private ownership for growers, wholesalers and retailers.

Over the longer term, PML would remain committed to providing the WA industry with security and opportunities to grow and develop, and to ensuring Western Australians continued to have access to affordable fresh produce.

“The level of industry knowledge, passion and experience PML’s investors bring mean there is no better custodian to take Perth Markets to its next phase, as a private entity.” he said.

“We will be examining all opportunities to improve services at Market City, as well as the potential for growth and development, to ensure we are delivering on our aim of maintaining a strong and secure market for generations to come.”