National dairy products supplier Lion is divesting some of its land holdings in Bentley, including a 2.9-hectare site, following its recent consolidation of the Masters Dairy depot as parts of its three-year growth plan.
National dairy products supplier Lion is divesting some of its land holdings in Bentley, including a 2.9-hectare site, following its recent consolidation of the Masters Dairy depot as parts of its three-year growth plan.
Located at the edge of Welshpool’s industrial hub and 8.5 kilometres south-east of the CBD, the Bentley site on Lot 2 Channon Street is being sold by Raine & Horne Commercial by way of expressions of interest, closing December 8.
The site has become available due to the recent consolidation of the Masters Dairy depot as part of national milk processor Lion Dairy and Drinks’ three-year $40 million investment plan, which it launched in 2016 to upgrade parts of the plant.
The site has become available as part of Lion’s three-year, $40 million upgrade plan launched last year, which included the consolidation of the Master Dairy depot and funding the investment by selling its surplus land in Bentley.
The land for sale adjoins Lion’s existing depot.
Meanwhile, a green title property currently home to the Suez recycling and recovery plant on 25 Fellowship Road, Gnangara, is also up for sale, with syndicate Gnangara Investments engaging Raine & Horne Commercial as exclusive agents.
The property was formerly tenanted by Perthwaste before Suez acquired the company for $87 million last year.
Suez has a 10-year initial lease term, which extends to June 20 2025 with further options available, at a net rental of $371,670 per annum plus outgoings and GST.
The total area of the site is 10,423 square metres with an additional 1,250sqm building comprising office space, sheds and a fuel station.
Raine & Horne Commercial director Anthony Vulinovich said the Wangara area had undertaken a big shift over the past few years with the release of large scale industrial subdivisions, including Enterprise Park and more recently Northlink Industrial Park.
This, Mr Vulinovich said, had put downward pressure on land value in the area.
“I expect this to turn around in the medium to long term and see Wangara as a future growth area with limited large scale land opportunities which would increase the value of commercial property,” he said.
“In particular the area will directly benefit from the rezoning on West Wanneroo directly north of Gnangara and the NorthLink WA road project linking Gnangara Road to Tonkin and Reid highways making the area more appealing to investors.”
The Fellowship Road property is for sale via offers, also closing December 8.
The listing of the site follows the $25.5 million off-market deal for three Wangara industrial properties to Western Australia-based developer Ascot Capital, brokered by Colliers International last month.
This comprised the sale of a 3.5ha industrial facility at 23 Destiny Way, leased to ASX-listed equipment hire company Global Construction Services, as well as two sites on Triumph Avenue –7,599sqm at 50 Triumph Avenue leased to i-Tech Services, and a 5,835sqm property leased to Glass Processing Australia on 56 Triumph Avenue.
