Arrow targets Welshpool warehouse
Arrow Capital Partners has acquired another industrial investment – this time in Perth’s Welshpool.
The 3.1 hectare site, 59-87 Pilbara Street, is costing $23.3 million from APIL Group.
It contains 19,090 square metres of area, tenanted to multiple groups.
The Weighted Average Lease Expiry is 2.43 years.
Savills Australia’s Matthew Hopkins, Michael Wall and Michael Fenton brokered the off-market deal.
Last month, Arrow paid Ascendas $101.6m for two Brisbane industrial assets (story continues below).
59-87 Pilbara Street
The Pilbara St investment forms part of an estate developed between the 1970s and 2000s; nearby occupiers include All Pet, DIAB Engineering, Forest One, GPC and Scania.
“Being set in the absolute core of Perth’s primary industrial precinct, the estate is ideally positioned to capitalise on the current rental growth being seen across Perth’s industrial market and low vacancy rates,” Mr Hopkins said.
“This property offers repositioning opportunities and an established tenant base to build on,” he added.
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