Troon Group enters Perth market with $80m site
Troon Group has paid $79.8 million for a 180-hectare industrial development site – its maiden Perth investment.
Part of the Bullsbrook Industrial Park, 201 Stock Road was acquired from interests associated with Harvis Capital.
Troon plans to act on a permit and subdivide the holding into about 130 industrial lots for sale and lease
The first release of land and assets available for lease is expected to be marketed early next year.
Troon is Melbourne-based.
Maiden Perth deal
Between Tonkin Highway and Great Northern Highway, adjoining the Perth-Geraldton rail line, the site is about 50 kilometres north-east of Perth’s CBD.
“Industrial land availability in Perth is at historically low levels, with vacancy rates sitting at around 1 per cent,” Troon managing director Tom McInerney said (continues below).
“This is a significant opportunity to bring new industrial stock to the market,” he added.
The broader Bullsbrook Industrial Park is marketed as a 186ha precinct, with about 165ha developable.
Harvis had pursued plans for a large industrial and intermodal precinct – a plan which failed to progress beyond the second stage of the WA Government’s market-led proposal process.
The sale comes three months since the Franco family’s Mimaro Group paid $15m for 57ha at 927 Cooper Rd, taking its Bullsbrook holdings to about 150ha.
That property was acquired from the Maas family and includes a substantial water licence.
CBRE’s Chris O’Brien, Andrew Bell and Josh Deluca negotiated the Troon transaction with Industrial & General’s Matt Lyford.
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