Local not-for-profit purchases development site for $2.7 million

A development site in Bentley has sold for $2.7 million to a local not-for-profit organisation.

Located at 1136 Albany Highway, Ray White Commercial WA agents Enrique Reyes and Chris Matthews were charged with selling the 4264sqm property on behalf of the City of Canning.

Mr Reyes said the site had received a lot of interest as it was a rare opportunity to secure a large development site along the Albany Highway.

“We had multiple offers received for the site across a variety of parties including developers, national tenants and owner operators,” Mr Reyes said.

“It was a corner development site along one of Perth’s busiest commercial corridors, located right beside the well-established Bentley Shopping Centre, zoned commercial offering a variety of possible uses.”

However, Mr Reyes said one of the challenges for purchasers was that the proposed development needed to comply with the city’s overall objectives for the area.

“The buyers intend to use the site to build a complex providing primary healthcare services for the local community,” he said.

He said there were some challenges to purchasing from Local Government.

“Although some buyers felt  it was challenging to comply with Local Government processes, with full transparency in our campaign, Ray White Commercial WA was still able to manage buyers’ expectations while still maintaining a competitive atmosphere and achieving a good result for both the buyer and seller,” Mr Reyes said.

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