Bibra Lake warehouse up for sale

AN 8,794 square metre office and warehouse facility on more than 3.5 hectares at 25 Cocos Drive, Bibra Lake, is available for lease through Stanton Hillier Parker.

Stanton’s leasing agent Justin Gilmour said the facility could be leased for $35 per square metre and the warehouse could be doubled in size to cover the 28,000sqm of land available.

Mr Gilmour said there had been more than $17 million worth of vacant land in southern industrial suburbs with lots in excess of 7,000sqm sold in the past three years.

“There were more than thirty larger industrial properties sold in the Myaree, Bibra Lake and Canning Vale area averaging $4.4 million per lot in the past three years,” he said.

There are twenty-three unsold blocks in the Cocos Park Industrial Estate, including eighteen blocks just released in stage four.

Zoned light industrial, the estate is bordered by Miguel Road, Cocos Drive and Barberry Way.

Mr Gilmour said, in recent years, rental levels for Bibra Lake industrial property had recovered from the lows of 1991 and 1992 with levels now exceeding the highs of the late 1980s.

Net rents for prime Bibra Lake warehouse space are about $50 per square metre and $40/sqm for secondary properties.

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