Birchmead snares site beside Barings industrial park
An unusual buffer site allowing industrial on part and residential on the other has sold off-market.
Local outfit Birchmead paid $8.5 million for 167 Bushmead Road, Hazelmere.
Spanning 4.43 hectares, it falls within Special Use Zone 13 under the Hazelmere Enterprise Area planning framework, intended to accommodate employment and industrial development.
The deal comes four years since Altis – now part of Barings – paid McMahon Burnett Transport $31.5m for the neighbouring 9.1ha block with a leaseback on an established building covering two thirds.
Altis went on to speculatively build a 13,000 sqm office/warehouse on the balance which last April BlueStar Global Logistics committed to a 9500 sqm piece of.
Now branded the Hazelmere Logistics Estate, going by 189 Bushmead Rd, it contains 21,878 sqm including the McMahon Burnet Transport building, and 88 car parks.
The project was the Sydney-based asset manager’s maiden in Western Australia (continues below).
Important industrial hub
Hazelmere is about 15 kilometres north-east of Perth’s CBD.
The precinct is a major industrial and logistics hub, close to Perth Airport, the freight rail network and Roe Highway.
Major industrial landowners include ESR, Hesperia and the state government via DevelopmentWA.
“The Hazelmere industrial precinct continues to demonstrate its strength as a key Perth growth corridor with demand for quality, well-located assets remaining strong and difficult to come by,” Effective Property Solutions’ Harry Mettam, who marketed 167 Bushmead Rd, said.
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