Willer pays $16.2m for Perth industrial investment
Willer Property has paid $16.15 million for a south Perth industrial property leased to ASX-listed marine and defence manufacturer VEEM.
The 2.17 hectare holding, 1 Brewer Road, Canning Vale, was until 2016 part of a bigger site owned by Swan Brewery.
A 4309 square metre workshop was completed in 2019 with two gantry cranes, of 10-tonne and 25-tonne – and rooftop solar infrastructure.
About 9500 sqm of land is developable.
In a statement, the Sydney-based buyer – which just opened a Subiaco office – said the acquisition price reflected the underlying land value, with passing rent below market.
The group is canvassing occupiers for the surplus land, which could accommodate an industrial facility of about 4500 sqm and additional hardstand, subject to approvals.
Income, development upside
Founded in 2024 by Will Johns, Willer Property said the low site coverage – the building covers 20 per cent of the block – leaves the asset available for development (continues below).
With the deal, the value of its assets under management is approaching $50m.
The group is pursuing further industrial, industrial outdoor storage and sale-and-leaseback investments across Western Australia and the eastern states.
Knight Frank’s Geoff Thomson marketed 1 Brewer Rd.
The deal was brokered off-market.
Canning Vale, about 13 kilometres from the CBD, provides access to Roe and Tonkin highways, Kwinana Freeway and Leach Highway, connecting the precinct with Perth Airport, Fremantle Port and the Kewdale intermodal freight terminal.
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