German waste manager secures land to expand
Germany based waste manager Remondis has bought Perth sites opposite each other, to occupy, maybe.
The 4.7 hectare industrial amalgamation, 49 and 53 Cutler Road, Jandakot, (outlined, image, top) cost $16.25 million.
The buyer owns and trades from neighbouring blocks; the new properties are for any expansion of its Western Australian branch.
The vendor, the family business behind West Coast Skin & Hide Co, held generations, more than 40 years ago using the parcels for tanning skins and hides.
Since then, the area has grown as a commercial hub, surrounded by residential.
“Our vendors…felt the time was right to sell given the rising interest from major players and the influx of infrastructure upgrades in the area,” Ray White Commercial’s Lachlan Burrows, who brokered the deal with Michael Danagher and Tom Jones, said.
Remodis buys room to move
Mr Danagher said infrastructure changes recently saw Verde Drive split the property.
This created frontage, opening it up to a wider range of potential developments, according to the executive.
The parcels weren’t offered separately.
“This sale represents a rare chance to secure scale, zoning flexibility and exposure in a tightly held precinct,” Mr Burrows added.
“It’s not often you get a site this large, surrounded by so much infrastructure, major retailers and growing residential density,” he said.
The future Peth Surf Park, Cockburn Gateway Shopping Centre and Cockburn Central Station are adjacent, he added, as is the Kwinana Freeway “making it a prime candidate for long-term strategic investment”.
Jandakot is 20 kilometres south of Perth’s CBD.
It has been a busy year for Germany based owner occupier investment – this deal coming four months since two noteworthy Melbourne sales: Wago outlaid $8.4m in Mulgrave while Multivac spent more than twice that in Keilor Park.
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