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Drapac Sells Leigh Mardon Complex, Highett, For More Than $17 Million

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Western Australia
Monday, 10 August 2009 09:13

THE massive Highett headquarters of security transaction products giant Leigh Mardon is understood to have sold to developer Hallmarc for more than $17 million.
 
The 2.13 hectare complex, within walking distance of the Southland Shopping Centre and Highett train station, includes a 4,643 square metre vacant site, which is expected to be developed into a retail, office and apartment complex. 

The remainder of the Nepean Highway property includes 10,672 square metres of office and industrial buildings leased to Leigh Mardon for ten years at an annual starting rent of $1.46 million.
 
Teska Carson director Larry Takis marketed the property on behalf of Drapac.
 
He said the site’s flexible zoning made it attractive to a range of prospective developers, but declined to comment on the eventual buyer.  A Hallmarc representative was unavailable for comment when contacted by The Age.