A key property at the centre of a fast-growing industrial hub south-east of Perth has been launched to market by Ray White Commercial WA with an asking price of $3.9 million.
Hyspec Mining Services, the Australian arm of multinational corporation Manuli Group, occupies the premises on a 10-year lease which started in November 2013, with a further two five-year options.
The modern 1450sqm tilt-up concrete and steel-clad warehouse-office was built for the tenant in 2013. The passing rent is $343,088, representing a passing yield of 8.8 per cent.
“Manuli Group was established in 1935 and the property represents an outstanding opportunity to acquire a quality asset with an excellent tenant and a lease with strong covenants,” Mr Parham says.
“The new Forrestdale Business Park is quickly securing its position as the most significant industrial and employment hub in Perth’s south-east corridor.”
The property is located between Ranford and Armadale roads, with ready access to Tonkin Highway.
The Between the Lines Perth Industrial Sub 5,000sqm Leasing Market September 2017 report found that increased construction and infrastructure starts in WA had built confidence this year, triggering a change in sentiment that has garnered attention from interstate.
“This change in sentiment has resulted in many opportunistic investors from the eastern seaboard venturing west because they see WA is at 6 o’clock on the property clock,” Mr Parham says.
The property is for sale by private treaty. View the listing here.