Lester Group spends $28.5m in Rockingham

Perth based fund manager Lester Group has swooped on a bulky goods/office investment between two of Western Australia’s fastest growing regions – Baldivis and Kwinana.

Rockingham Central, at 2 Sepia Court, is setting it back $28.5 million.

Also at the south east corner of Council Avenue and Reed Street, the asset was offloaded by Arise Developments which only completed construction last month.

Colliers’ Wayne Lawrence was the agent.

Rockingham Central

With c6000 square metres over three levels, and 117 car parks, Rockingham Central is part leased to Anytime Fitness, Dentistry Plus, Professionals Real Estate and Zambrero.

Vicinity’s 62,000 sqm Rockingham Centre is across the road (story continues below).

Lester Group, directed by Russell Lester, maintains a diversified property portfolio – with offices, industrial, residential and over 50s investments.

It aims to invest $1m into every syndicate it markets.

Five months ago, we reported the group offloaded a Belmont office and car park for $22m – about $3m more than what it paid Stockland in 2013.

Last year Lester Group paid the Humich family $58m for Midland Megaplex, on five hectares.

Rockingham is about 40 kilometres south of Perth.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.