JLL sell two industrial development sites off-market

Two industrial development sites at 92 Bedford Crescent, Forrestfield ($7.0m) and 24-26 Ewing Street, Bentley ($6.0m) has been sold off-market by JLL’s Director, Logistics & Industrial, Andrew Fife and Associate Director, Logistics & Industrial, Ross Palframan.

92 Bedford Crescent, Forrestfield comprises a 1.8Ha serviced site that is zoned ‘Light Industry’, providing a multitude of options for the occupier. The site is located on one of Forrestfield’s major thoroughfares and offers a clear, leveled site that is scarce in Perth’s core industrial markets.

Mr Fife said, “With the lack of opportunities available for purchase and significant owner occupier appetite, we are seeing scenarios where industrial assets are being snapped up prior to being taken to market and vendors happy to accept strong offers reflective of market conditions. These transactions reinforce the underlying demand and high levels of liquidity we are currently experiencing. The properties presented an opportunity to acquire sites with scale located in core industrial precincts.”

Situated less than 1km from Perth’s logistics arterial network of Roe Highway, the strategic location will be further enhanced by the completion of the Forrestfield Airport Link. This will provide excellent access to the world class transport networks that service High Wycombe/Forrestfield to the CBD, Airports, and the Perth Metropolitan Area.

24-26 Ewing Street, Bentley is a 8,094 sqm ‘Light Industry’ zoned site comprising B-grade industrial accommodation that was purchased as an expansion mandate by the adjoining owner for $6,000,000.

Mr Palframan added: “The overall land scarcity and lack of existing facilities within the current market has driven significant levels of take-up from owner occupiers, particularly with expansion mandates within the core eastern corridor. This overall thematic is forecasted to cause a continuation of pressure on land values moving into the future.”

“Forrestfield and Bentley are considered two of the best performing sub-markets in the eastern industrial corridor with transaction levels at an all-time high. The locations are deemed desirable from a logistics perspective due to their efficient access to the major road networks and ease of vehicle flow in comparison to other more congested industrial suburbs,” added Mr Palframan.