Perron sells Welshpool investment
Perron Group has sold a Welshpool industrial investment to an owner occupier.
The 1.12 hectare property with 4099 square metres of area, 26 Dowd Street, on the south east corner of Kewdale Road, collected $5.9 million.
Close to Kewdale Freight Terminal, it is presently tenanted to Dutt Transport.
Based on the annual passing rent, the sale price reflects a 5.12 per cent yield.
CBRE’s Tom Iredell, who marketed the property with Jarrad Grierson, said seven offers came in following a Request for Offers campaign which closed in late March.
“The high level of participation created a sense of completion amongst bidders, building momentum leading into the second round and assisting [us] to negotiated an excellent outcome,” he added (story continues below).
“Demand for vacant industrial assets continues to increase on the back of heightened business activity from mining related industries and record low interest rates creating a compelling purchasing environment for owner-occupiers”.
The deal comes a year since Australia Post leased 6500 sqm – or just over a fifth – of Charter Hall’s Kewdale Distribution Centre in the area.
Fortescue Metals has also recently moved into the pocket, following a 1690sqm commitment at 9 Longellow Road, Belmont – a deal also negotiated by Mr Iredell with colleague Chris Monterosso.
Welshpool is about 10 kilometres south east of Perth.
