Perth investor purchases Klen International HQ for $5.2M

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.”