Axiom Properties Limited provides a further update on its large format retail project in Butler WA. The company announced that it has successfully settled the purchase of the major lot (Lot 2813) within the wider land holding of the Woolworths Butler Central Shopping Centre for $8,787,174.00. The purchase enables the Company to commence construction of the project in accordance with the construction program, expected to commence on site in mid July 2021. The purchase of the 2.7 hectare site was funded from existing cash reserves. The Company also has a contract to purchase 2 additional pad site lots, expected to be settled by early October. As previously advised, the project continues to generate strong interest from national and local retailers in the large format retail sector, a sector which has generally benefited greatly from the Covid 19related circumstances of the past year. The Company's large format retail project sits adjacent to the Woolworths Butler Central Shopping Centre which is currently under contract to Charter Hall and expected to settle in July 2021. When fully developed, the integrated Centre will comprise approximately 25,000 sq.m of convenience and large format retail, making it the dominant retail centre within the Butler area, sitting adjacent to the Butler train station.