This article is from the Australian Property Journal archive
DEVELOPER Built Form Capital is investing in Perth’s Osborne Park, having snapped up 21,00sqm of land in the area to transform into $66 million worth of industrial and commercial product.
Built Form Capital reports that their investment “so far” into Osborne Park, around 8km northwest of the Perth CBD, will lead to amenities and design that are “unmatched” across the state.
“We estimate that in the next five years our projects alone will bring $320 million in gross development value to the area,” said Anthony Bryson, founder and director.
“The amenities and a higher level of architectural finish are also still important for business owners, which is why we are striving to set a new standard not yet seen in Osborne Park or other industrial offerings in WA.”
The group’s existing developments are currently 95% either leased or sold, which Bryson attributes to “the post pandemic industrial boom and a reduction in globalization”.
“We have seen an increased need for additional space as businesses look to store things locally after the cost of shipping and wait times on offshore materials and products soared following the pandemic,” said Bryson.
The company has also earmarked Osborne Park for more sustainable development practices, looking to include more natural light, recycled materials, LED lighting and solar in its builds, while also working with local traders and suppliers were possible.
Built Form Capital has also recently received development approval for its project that will house its state-of-the-art lifestyle units.
Bryson’s grandfather, Tony Federico, was the owner of one of Osborne Park’s first opened businesses in Swan Motor Wreckers.
“This is a passion project and it’s comforting to be able to finally bring the idea into fruition. The concept of the lifestyle units is a space of luxury and exclusivity with an invitation only membership offering,” concluded Bryson.
Osborne Park recently made the top 10 in RentRabbit’s affordable tenant-friendly suburbs in Australia, after making HOOD.ai’s top suburbs for buyers and renters on average salaries list back in April.
