South-east Perth industrial site sells for $11m
A south-east Perth industrial site has sold for $11 million off-market after being held by one family for decades.
Spanning 3.96 hectares, not all which is developable, 49 Coldwell Road, Kenwick, was bought by local builders.
It comprises a single-storey house and outbuildings, with vacant possession due at settlement.
The site sits within the Maddington-Kenwick Strategic Employment Area (MKSEA), an industrial growth corridor near Tonkin Highway and Roe Highway, with access to Perth Airport and the Kewdale freight and logistics precincts.
The proposed rezoning is expected to unlock industrial and business-development land across Kenwick, Maddington and Wattle Grove.
Among the established players in the precinct is Hesperia, which is developing the 75ha Roe Highway Logistics Park in Kenwick.
That project incorporates industrial land assembled through the acquisition and amalgamation of more than 40 parcels.
Elsewhere in MKSEA, private developer Juceda Investments has developed industrial land in Maddington, including a site occupied by Bunnings’ distribution centre.
The proposed local scheme amendments for MKSEA Precincts 2 and 3B is being reviewed by the Western Australian Planning Commission ahead of a final decision by the planning minister.
Kenwick is about 14 kilometres from the CBD (continues below).
49 Coldwell Road
About one hectare of 49 Coldwell Rd, along Yule Brook at the rear, is expected to be ceded for public open space and drainage under the proposed planning framework.
The net developable area is c2.96ha.
RWC WA Capital Markets director Brett Wilkins said the land’s scale and scarcity had attracted buyers despite its medium-term development horizon.
“As Kewdale and Welshpool reach capacity, MKSEA has become Perth’s premier industrial pipeline,” he added.
The property had industrial zoning under the Metropolitan Region Scheme, while the local planning framework remained subject to further approvals.
Co-agent Chris Matthews said the campaign attracted multiple offers before the off-market sale.
“With direct access to an established workforce across Kenwick, Maddington, Gosnells and surrounding suburbs, sites of this calibre within MKSEA are uniquely positioned to capture the next wave of industrial growth in Western Australia,” he added.
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