Asset managers trade Perth warehouse
QIC and Fife Capital have sold another co-held industrial investment, this time in Perth.
The Welshpool holding, 2-10 Kewdale Road, is speculated to be selling in the low to mid $20 million range – assuming a yield of 5.75-6.5 per cent.
Leighton Funds is the buyer for a fund now calling on investors.
Cushman & Wakefield’s Andrew Fife, Nick Goodridge and Tony Iuliano were the agents.
The deal comes five months since we reported QIC and Fife sold a Brisbane industrial investment for $72.5m.
Gateway Capital was that buyer.
2-10 Kewdale Road
QIC and Fife paid $20m for 2-10 Kewdale Road in late 2022 (continues below).
The 1.82 hectare site, also exposed to Mills Street North and the busy Orrong Rd, contains a 13,225 square metre building let to Bend-tech Group until 2032.
The warehouse is high-spec with multiple heavy duty gantry cranes, high clearance and wide roller-door access points from multiple streets.
Offices and staff amenity areas were recently refurbished.
Bend-tech is on a triple net lease – it is responsible for all outgoings include capital expenditure and structural maintenance.
Welshpool, 12 kilometres south east of town near major freight routes including Tonkin Highway and Roe Highway, with low vacancy and limited development opportunities, is considered one of the city’s most established industrial markets.
It is three km from Perth Airport.
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