Medical investor/developer pays $2.35M for Balcatta land

A PRIVATE medical investor/developer has purchased a vacant piece of land in the City of Stirling/Northern Corridor of Perth for $2,350,000 at 275-281 Wanneroo Road in Balcatta.

The asset came with a 2,812sq m* site area and was sold by Ray White Commercial (WA) Sales and Leasing Agent Tom Jones and Joint Managing Director Stephen Harrison following a successful expressions of interest campaign.

“The private medical investor/developer is looking to undertake a comprehensive medical facility development that should be completed in the next 12 months,” Mr Jones said.

“The asset appealed as it was available for special use for a medical centre and convenience store, as well as the property falling under the City of Stirling Better Suburbs Scheme and as such, offered future multilevel development options for both residential and commercial.”

“There were multiple enquiries on the property for a range of development options taking advantage of high traffic levels and exposure through Wanneroo Road,” Mr Harrison said.

“The commercial property market in the area is buoyant with high density quality residential surrounding the site and a lack of quality amenity. The brother sellers are now one step closer to retirement.”

*Approximately.