This article is from the Australian Property Journal archive
A MANUFACTURING, office and warehouse facility at Malaga in north-east Perth has sold for $2.7 million on a 6.7% yield.
The 329 Victoria Rd is located 11km north-east of Perth and comprises a 3,547 sqm parcel of land which is improved by a 1,771 sqm warehouse, offices and showroom space.
Colliers International director industrial agency Raj Singh and industrial executive Jeremy Parasiliti handled the sale.
Singh said the property attracted strong bidding from investors, which resulted in the low yield.
“The competitive bidding demonstrated the ongoing demand among small to mid-sized investors for well-located, securely leased industrial sites.
“We had over 30 enquiries on this property and five serious bidders competing for the site. It shows the high interest that is out there for leased properties, especially those in modern warehouse style where there is a potential for flexible or multiple uses such as manufacturing and logistics,” Singh said.
The property was sold with a five-year lease with a five-year option.
Australian Property Journal
