Experts discuss Western Australia’s industrial property market
Hundreds of people tuned in to listen to the 25th edition of RWC’s Between the Lines webinar today, where our panel of experts discussed Western Australia’s industrial market.
RICHARD Eadie, on behalf of DND Properties, has bought the freehold of Klen International HQ for $5,2000,000 following a private treaty campaign at 36 Hemisphere Street in Neerabup.
The asset, that offered a 3,419sq m* building area on 8,329sq m* of land size, consisted of a main office, warehouse, warehouse office and a laboratory.
The property was marketed and sold by Ray White Commercial (WA) Property Advisor Brett Wilkins.
“The building is currently leased to Klen International who is a subsidiary of Avantor Performance Materials, a US company which was founded in 1867, and has a turnover of more than $4BN a year,” Mr Wilkins said.
“Klen competes successfully with its national and international competitors and has become the largest manufacturer and supplier of Fire Assay Flux in the world.
“The asset was purpose-built for Klen, with the foundations for a second-floor office already built. Distributing to over 63 countries worldwide, Klen is truly an international company.
“The area itself is a new industrial precinct that’s slowly being built out – with the freeway extension and land prices making this an attractive industrial location.
“There are four and a half years remaining on the current lease with a five-year option and the asset was sold on a 7.9 per cent yield.”
Hundreds of people tuned in to listen to the 25th edition of RWC’s Between the Lines webinar today, where our panel of experts discussed Western Australia’s industrial market.
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