Four industrial properties in Booragoon, Bibra Lake and Willetton are expected to generate strong buyer contest.
Four industrial properties in Booragoon, Bibra Lake and Willetton are expected to generate strong buyer contest, as buyers continue to look for quality investment opportunities in Perth’s suburbs.
The diversified WestPro showroom and industrial property portfolio has come to market with expectations of $12 million, presenting a total rental income of more than $842,000 per annum from 12 tenants.
Savills Industrial's James Condon and Lachlan Webster have been appointed to manage the expressions-of-interest campaign, saying opportunities to own fully tenanted industrial portfolios were becoming increasingly difficult to come by.
“Purchasers are struggling to acquire investments in the current market due to few landlords willing to sell,” Mr Condon said.
“Low interest rates have deterred some landlords from selling leased investments.
“However, there is strong demand from purchasers when high-quality leased properties are presented to the market.”
The properties are located at 491 Marmion Street, Booragoon (1,590sq m showroom/warehouse); 82 Norma Road, Booragoon (1,410sq m showroom/warehouse); 27 Port Pirie Street, Bibra Lake (2,178sq m indoor futsal facility/warehouse); and 10 Kembla Way, Willetton (1,350sq m warehouse).
Mr Webster said the portfolio would suit an astute private investor or a self-managed super fund.
“With multiple long-term tenants, the average WALE of four years provides a solid income stream from purchase,” he said.
“The locations are ideal for industrial ventures, with three of the four properties benefitting from exposure to major roads with high traffic flows.
“There is also potential for redevelopment to the Bibra Lake and Booragoon properties.”
The properties are being offered for sale in one line or on an individual basis.
Expressions of interest close Wednesday 2 May 2018.