This article is from the Australian Property Journal archive
GLOBAL equipment supplier Hitachi Construction Machinery Australia (HCA) has outlaid $15.49 million to secure 5.2 hectares of vacant industrial land in Perth’s south east.
The 141 Allen Road site in Forrestdale was acquired from a private Forrestdale syndicate.
Effective Property Solutions negotiated the deal.
“HCA is enjoying sustained growth here in WA and, when EPS presented this opportunity, the company saw the potential for it to accommodate this growth,” said head of and industrial sales and leasing at EPS, Justin Mabarrack.
Having assisted with the due diligence process, EPS is now project managing a works program at 141 Allen Road to pave the way for Hitachi to integrate the new space into its existing facility.
Hitachi will also move its Welshpool operations to the Forrestdale site.
He said that in a market where there was a shortage of development-ready land, the lack of available stock had led to an increase in land values in core industrial precincts.
“This has pushed buyers to seek alternate land and development opportunities in fringe suburbs,” he said.
“As land continues to get absorbed at a rapid pace due to strong market demand, EPS is noticing owner-occupiers widening their search parameters and seeking expansive land holdings in secondary established suburbs, such as Forrestdale, to secure future headquarters to accommodate for their growth.”
