For the first time in over twenty years, two industrial assets are presented for sale in a market, which is currently experiencing limited supply.
News release
10 October 2023
Rare Perth industrial portfolio a strategic investment opportunity
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PERTH, WEDNESDAY 11 OCTOBER 2023 – Two unique industrial assets located in Canning Vale and Midvale are now available to purchase for the first time in over 20 years.
The landlords (Swan Transit) sold their operating business and are now looking to divest their real estate holdings, both located in core industrial locations in Perth.
Canning Vale is a high value industrial site on a significant landholding (c.3.25ha), with a net passing income of approx. $1,174,898 p.a.
“The existing improvements, unprecedented exposure to Roe Hwy and location would suit transport and heavy equipment-based occupiers, with short term holding income and low site cover providing value add optionality to investors and developers” said Matt Brunsdon, JLL Head of Logistics & Industrial WA.
The Midvale property is a leased investment, with government covenant split over three titles, totalling approx. 9,200sqm that provides longer term options and value add. With a net passing income of approx. $391,232 p.a.
“Midvale is a strategic opportunity to secure a strong leased investment in an established industrial pocket of Midvale providing optionality for prospective owner occupiers, investors and developers. The property is currently operating as a major Bus Depot, leased to the Public Transport Authority WA until June 2028” said Chris Monterosso, JLL Associate Director Logistics & Industrial.
JLL Q2 2023 Logistics and Industrial Market Overview reported Perth investment volumes over the last 12 months totalled AUD 294.8 million across 20 transactions. This figure sits below the 10 year average of 469.0 million.
“Rental growth is anticipated to continue its upward momentum going forward, driven by strong demand and scarcity in supply” explained Brett Mathanda, JLL Director Logistics & Industrial
JLL are exclusively appointed for both divestments.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.