Modern Perth office/warehouse sells for $15m
An occupier is paying $15 million for a three year old office/warehouse in Perth’s north east.
The deal for 17 Wicks Street, Bayswater, was sealed weeks ahead of scheduled, following an expressions of interest campaign launched October.
Last occupied by SWI Fencing, it contains 3103 square metres with a high 19 per cent (603 sqm) configured as corporate grade offices.
The warehouse, with a 12 metre clearance, is fitted with gantry cranes.
The site spreads 9079 sqm with an extensive hardstand area, part offering development upside.
There is also infrastructure in place to upgrade the power supply from 250amp to 630amp.
Development upside
The Bayswater property was offered vacant.
“In a clear sign of market confidence, the asset was placed under contract just 22 days after launch, two weeks ahead of schedule,” Colliers’ Sam Hammond, who brokered the deal with Hayden Dick, said.
“Owner occupiers are incredibly active in the market driven by a desire to secure long-term control over their operational footprint,” he added.
“This campaign attracted significant interest and the volume of enquiries highlights the amount of unplaced capital still looking for opportunities in Perth’s industrial market,” according to the executive.
“The result reflects a broader trend in Western Australia’s industrial sector where demand remains robust despite evolving economic conditions”.
Bayswater is about seven kilometres from town.
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