Mair Property Funds has sold a Beckenham bulky goods investment leased to Forty Winks and Beacon Lighting, to the latter.
The $7.8 million deal reflects a 6.08 per cent net yield for the vendor.
Opposite an Adairs, Bedshed, Early Settler and Spotlight and adjoining a BCF, the property, 19-21 William Street, covers a 4756 square metre site with 41 car parks.
It contains 2275 sqm of lettable area and a rear loading dock.
The Weighted Average Lease Expiry by income was marketed to investors as 6.4 years.
MPF acquired the asset in 2009 for the MPS united Trust No 1.
Transact Capital managing director Alex Gismondi closed an expressions of interest campaign on November 20 (story continues below).
The executive said the arterial has all-directional access and egress making it popular with occupiers and “unlike Albany Highway which is only left-in-and-left-out”.
Beckenham is 13 kilometres south east of the CBD and neighbours Cannington – another major bulky goods hub.
Elsewhere in the city, two months ago, MPF paid Sentinel Property Group $12.4m for an industrial investment in the city, at Canning Vale.
Not long earlier it spent $10.6m on a West Perth office.