Owner occupier taking advantage of conditions to upgrade industrial facility

AN owner-occupier has purchased a high profile site in Perth’s northern industrial precinct for $9.625 million.

The 12,700sqm site, located at 32 Milrose Drive in Malaga, contains a 6,255sqm industrial facility which is set to be expanded by the buyer, Vekta Advanced Automation.

Ross Palframan, associate of JLL Logistics and Industrial WA, negotiated the off-market transaction, following an extended leasing campaign for the property which has sat vacant.

“This acquisition was an expansion mandate due to the recent growth in the residential construction industry in WA, with Vekta Advanced Automation subsequently outgrowing their existing facility,” said Palframan.

“This is consistent with the market trends we are seeing in the current industrial market, with owner occupiers seeking to upgrade and expand into larger facilities.”

The facility sits in Malaga’s core northern industrial precinct and offers corporate-grade office space over two levels, spanning around 1,534sqm, as well as a fully fully ESFR sprinklered, high truss warehouse over approximately 4,721sqm.

“The industrial sector is continuing to benefit from increased onshore manufacturing, sustained low interest rates, and improved access to capital which are driving a revival of owner-occupier demand and activity in 2021,” concluded Palframan.

In Perth’s logistics and industrial market, a Linfox Australia depot has just become available, offering investors a chance at a high income generating asset in the north-east suburb of Bullsbrook.

While in July,  Arrow Capital Partners  claimed a 3.1-hectare multi-tenanted estate in the heart of the Welshpool industrial area for $23.3 million.