Bibra Lake industrial warehouse sells for over $1.1M

An owner-occupier has snapped up a standalone industrial warehouse within Bibra Lake’s prime industrial precinct for $1,145,000 at 46 Bushland Ridge.

The asset, that came with cold storage included, offered a 656sq m* building area and was sold as vacant possession.

The asset was marketed and sold by Ray White Commercial (WA) Sales and Leasing Associate Enrique Reyes.

Mr Reyes said the property was built with the operating business being a fruit and vegetable supply company.

“It was attractive because of the grease trap, fridges, and solar panels that were appropriate for most food businesses,” Mr Reyes said.

“We’ve noticed a number of buyers have been looking for approved food premises in the metro area, but have struggled to find the right one.

“Most in the market are quite big, and the alternatives are just too small. 46 Bushland Ridge was in a unique position in terms of size.

“Industrial property in Bibra Lake has had its challenges recently. However, being a unique offering, our marketing attracted both food and non-food operators.

“The property was launched to the market in the middle of March 2019, and went under contract in late May 2019.

“It was only on the market for less than three months, and considering how the market has been, it was quite a short campaign.

“As agents, we were successful in creating competition for this property, which created the right environment for buyers to put their offers forward to bring out the best possible price.

“The property featured double roller door access, front office amenities, air conditioning, a good container lay-down area, secure front yard parking, three cold storage units and a solar power system.”

*Approximately.