Occupier buys ex-Betts warehouse

Centuria spent $11.75m on a Malaga investment last month.

Vekta Automation has purchased a Malaga warehouse which was for lease.

The 1.27 hectare site at 32 Millrose Drive – backing onto Malaga Dve at the intersection with Reid Highway – was last occupied by shoe retailer Betts.

It contains 6255 square metres of area – a quarter of which is fit out as corporate quality offices.

There are also 99 car parks.

Vekta, which is paying $9.625 million, will occupy the facility as its headquarters.

JLL’s Ross Palframan and Brett Mathanda were the agents.

Malaga is about 11 kilometres north of Perth (story continues below).

Elsewhere in the suburb, last month, Centuria spent $11.75m on a maintenance depot leased to Transpacific Cleanaway.

That property, 171 Camboon Road, will be held by the Diversified Property Fund.

In June, Bidfood Australia outlaid $8.45m for a 12,243 sqm office, warehouse and workshop, on 2.2ha at 38 Crocker Street, formerly occupied by Goodman Fielder.

Last January – not long before the national lockdown – a small local fund manager spent $7m on an investment covering 1.51ha at 380 Victoria St.

That deal reflected an 8.57 per cent passing yield.

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Marc Pallisco

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