This article is from the Australian Property Journal archive
A CAR yard in Perth’s north west home to Paceway Mitsubishi has sold in an off-market deal for $14.5 million to a private investment company.
The Osborne Park property, at 380-384 Scarborough Beach Road in a premier automotive precinct, has a total area of 12,182 sqm is occupied by an ASX-listed tenant.
Selling agent Sam Hammond of Colliers said the sale represents a “significant milestone, with Osborne Park being a such tight market”.
“There have been few transactions of scale in the area over the recent years, making this deal a turning point in the market. The property hasn’t changed hands in over 30 years making the sale extremely noteworthy to investors,” he said.
“The benefits of an ASX-listed tenant and the site’s location in Australia’s best performing bulky goods prominent display precinct, make for a great investment decision for property owners.”
