This article is from the Australian Property Journal archive
SUBIACO-based commercial and residential property investment company Westbridge Funds Management has sold two Kewdale sites to steel manufacturer Metroll.
The two lots at 3-5 Marchesi Street, around 8km out of the Perth CBD, total 4,200sqm with a building area of 2,400sqm are fully leased.
Burswood-based specialist property services firm Effective Property Solutions (EPS) facilitated the $10.8 million sale.
“EPS actively manages 3 & 5 Marchesi St, and they will remain home to current tenants Dirty Clean Food in the short term,” said Justin Mabarrack, head of commercial & industrial sales and leasing at EPS.
“Metroll owns several properties surrounding Marchesi Street and its headquarters on Chilver St is directly opposite these newly acquired buildings. This strategic off-market acquisition will facilitate their future expansion plans, with the Marchesi properties set to be incorporated into their existing operation in the near future.”
Westbridge Funds management acquired the separate green title lots back in December 2022 for $8.1 million.
The transaction comes straight after Westbridge announced it spent $21 million adding two blue-chip Western Australian medical assets to its Total Returns Fund.
While back in March, Westbridge spent $23 million on Charter Hall Long WALE REIT’s Redbank Plains Retail Centre in Ipswich.
