In close proximity to the Perth CBD, within easy access via Orrong Road, Tonkin Highway and Roe Highway and adjacent to the Perth Airport, this property ticked a range of desired boxes for the astute buyer.
Understanding the importance to get the property to market as soon as possible, Realmark Commercial Senior Sales and Leasing Associate, Rob Dawson expressed the work that went into securing an overall successful result.
“There were a few long nights and a lot of hard work to get this property to market as soon as possible but once it did, we experienced a flood of enquiries.”
“In the first week alone, we had over 40 enquiries with several very interested parties, but ultimately sold the property to an interstate buyer for $5.2 million.
“Due Diligence needed to be completed remotely, which emphasised the importance of communication between all stakeholders, and due to some circumstances out of our control this period extended longer than anticipated,” Rob said.
Following another successful transaction involving an east coast buyer, Rob believes a shift is occurring towards WA’s developing commercial market.
“Not only have we been experiencing a huge influx in property interest from the eastern states, but a lot of this interest has turned into transactions,” Rob said.
“With the east coast’s market being tough to navigate right now, and WA in a rare vein of demand, I can see why more interstate buyers are looking to set themselves up with long-term commercial property investments.”
The 3,422sqm site features a mix of showrooms and manufacturing space, with a net income of $310,101 per annum.
With three secure tenants on a WALE of 4.5 years, including some occupying the site since 1996, once the property went on the market for sale through EOI, it didn’t take long for investor interest to pique.
To learn more about transactions like this, or to enquire about a property, please contact Rob Dawson on 0447 218 516 and Wayne Chorley on 0423 252 253.