Investor buys vacant Perth warehouse
A vacant industrial investment near Perth Airport sold for $7.81 million.
The 9277 square metre holding at High Wycombe found favour with Resa Investments Pty Ltd, which holds other local assets.
Longer term, the buyer might move a business to part or all of it.
David Letizia was the seller.
Investment planned
Buildings containing 2175 sqm cover less than 20 per cent of the rectangle shaped block.
“We experienced significant buyer demand from all buyer groups including owner-occupiers, investors and developers however the owner occupier enquiry was significant,” Knight Frank’s Geoff Thomson, who marketed 122 Sultana Road West with Lachlan Lewis, said.
“The buyer intends to further develop the property – in particular install drainage and bitumenise the rear of the site measuring over 4400 sqm – and then potentially…occupy,” Mr Thomso said.
“This competition resulted in a strong sales price exceeding expectations and while the vendor didn’t choose the highest price, it went with the cleanest offer,” he added.
New the Kewdale/Welshpool intermodal terminal, High Wycombe is about 16 kilometres east of the CBD.
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