The only new subdivision in Jandakot in a decade, the Jandakot Freeway Industrial Estate is now completely sold out thanks to Ray White Commercial WA agents Enrique Reyes and Josh Sumner.
Located on the corner of Solomon Road and Cutler Road, Ray White Commercial WA was responsible for selling over 60 per cent of the land to a value of $5.749 million.
“The property used to be an underutilised industrial yard before it was purchased by a local developer with the vision to offer small land parcels for the growing businesses in the area who would prefer to have their own standalone property instead of the usual strata factory unit,” Mr Reyes said.
“The project was developed in two stages featuring small lots starting from 1,124sqm up to 2,098sqm.
“It was able to supply the need for local businesses to secure their own land parcel suitable for a small standalone building within a prime industrial precinct.”
Mr Sumner said the stage one lots were quite attractive with all the lots having prime street exposure while stage two of the development was envisioned to be tricky. However, some quick thinking by the developer meant maximum builds could still be achieved for every lot at a more affordable price.
“The stage 2 lots were survey-strata (as opposed to green-titled) and they all had an easement across a portion of the land preventing owners from building any permanent structure on that portion,” Mr Sumner said.
“However, the developer creatively designed the lots to segregate the portion with easements to be used as car parking/yard, ensuring that a building development on any of the lots was not affected, and a maximum build area can still be achieved for every lot.”
Mr Reyes said demand for industrial properties had been strong throughout 2021.
“Almost all the lots were sold at asking price and, as the general market for industrial properties improved this year, we were able to secure multiple offers for the lots being sold,” he said.
“We still have a few buyers who missed out and we are hoping to find them other properties to purchase.”