PTA buys another site
Three weeks after acquiring a Bayswater site for its electric bus fleet, the Public Transport Authority of Western Australia has bought again – across town, in O’Connor.
The state government is outlaying $29.81 million for the 4.29 hectare industrial parcel – 144 Carrington Street, at the south east corner of Sainsbury Road – opposite both the Fremantle Cemetery and Royal Fremantle Golf Course.
Alan Tribe, the vendor via a company, Elstead, outlaid $15.4m in 2013.
Not long ago, the Industrial zoned tract was earmarked for an IKEA store.
Biggest industrial deal this year: agents
Ray White Commercial’s Brett Wilkins, who marketed the asset with Stephen Harrison, said it is the biggest local industrial deal by value this calendar year.
“The sale of 144 Carrington St underscores the strong demand for prime industrial land in Western Australia,” he added (story continues below).
“This property’s strategic location, combined with its significant land area, made it…highly sought after,” according to the executive.
“The competitive bidding process reflects the confidence that local an national investors have in the long term potential of the industrial sector in this region.
“This transaction is a clear indicator of the robust market conditions we are currently experiencing”.
O’Connor, a predominantly industrial suburb, is 20 kilometres south west of Perth’s CBD.
It is five km from Fremantle Port.
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