High demand for city infill sites has claimed the popular Northbridge Continental Food Markets, which will close its doors on Saturday to make way for new apartments.
Established by the well-known Andritsos family, the James Street supermarket has been serving shoppers for 30 years.
John Andritsos opened the store with a deli and supermarket in 1983 and later bought several adjoining blocks of land to create the 2100sqm site that now sits on the doorstep of the multibillion-dollar Perth City Link project.
"My father is retiring after 30 years and it's been a good ride but it's time to move on," son Jamie Andritsos said.
"Initially it was hard to let go, there's a lot of sentimental value and I've practically spent my whole life here but you come to your senses when the developers come and offer good money."
Finbar Group paid $6 million for the site and plans to build 85 apartments with an end value of $50 million.
Mr Andritsos said the food market was still trading well but stiff competition from supermarket chains and deregulated shopping hours had put pressure on the family-run business. He said it was unlikely they would re-open in a new location.
"We are still trading all right and keeping our heads above water but the hours have been very demanding," he said.
"We have a loyal customer base and it will be sad not to see them again and sad not to be in the industry anymore. But life is short and the plan from here is just to enjoy life and live in peace."
We have a loyal customer base and it will be sad not to see them again."John Andritsos