Interstate buyers help drive Perth leased investment sales

4/11 Signal Terrace in Cockburn Central.

PURCHASERS from interstate have helped drive recent leased investment sales across Perth as investors look to capitalize on assets under $500,000.

Ray White Commercial (WA)’s Stephen Harrison, Lachlan Burrows, Enrique Reyes and Josh Sumner have managed six recent sales between them, and half came from outside of WA.

“Over the last few months, we’ve seen these six properties snapped up by investors, with a combined sale value of more than $2,500,000,” said Ray White Commercial (WA) Director Sales and Leasing Stephen Harrison.

6/9 Caloundra Road in Clarkson.

“These assets had an average yield of 7.42 per cent and an average WALE of 4.25 and what made them so appealing was stable tenants, affordable prices, location and good yields.

“Investors from interstate have been quite aggressive to secure investment properties in WA as half of the purchasers are not local.

“The general market for investment property seemed to soften in the tail end of 2018, and stayed the same until the second quarter, where we observed an increase in enquiry levels.

“These properties were sold in just the last four to five months only, seemingly in time with the results of elections, and the return of the appetite of banks to lend again.”

2/215 Railway Avenue in Kelmscott.

Recent sales:

5/11 Signal Terrace in Cockburn Central – $439,000
4/11 Signal Terrace in Cockburn Central – $451,000
38/12 Junction Boulevard in Cockburn Central – $450,000
2/215 Railway Avenue in Kelmscott – $474,000
6/9 Caloundra Road in Clarkson – $313,000
1/153 Kensington Street in East Perth – $410,000.