A PRIVATE local businessman and developer has purchased a substantial office/warehouse in the inner eastern Perth suburb of Rivervale as 33 Cleaver Terrace sold for $5.3 million.
The property was sold via private treaty and was sat on a large 9,991sq m* site area with a 6,020sq m* warehouse and 1,522sq m* of office space.
The asset was successfully marketed and sold by Ray White Commercial (WA) Joint Managing Director Chris Matthews and Industrial Negotiator Martin Vogt.
“Although aged improvements, the building is very functional, and initially the buyer intends to upgrade the facility for the purpose of office/showroom and warehousing,” Mr Matthews said.
“Having said that, the site does also allow for future residential mixed-use redevelopment in this highly sought-after location.”
“Industrial properties in and around Perth are booming right now and it’s reflective of the wider vibrant WA economy. This property was sold after just two weeks,” Mr Vogt said.
“The property was sold almost for land value, has close proximity to Perth CBD, and benefits from a great transport system, access to arterial roads, and links to the airport and key freight destinations.”