Bunbury market owner in industrial buy

Bunbury Farmers Market founder Graham Heath has purchased a Kwinana Beach industrial property for $4.95 million from engineer Jon Edwards.

Mr Heath, who owns the popular tourist destination, bought 7 Thorpe Way from Jon Edwards Investments and Mine Maintenance Management.

According to ASIC documents, Jon Edwards is the sole shareholder of Mine Maintenance Management. 

Mining magnate Gina Rinehart bought a majority stake in Bunbury Farmers Market late last year, marking a partnership with Mr Heath and co-owner Kevin Opferkuch.

The 4,000 square metre Kwinana Beach asset is fully leased to Alfa Laval Perth and IPS Australia, with a four-year weighted average lease expiry.

Ray White Commercial WA sales and leasing executive Michael Danagher brokered the deal, on a 5.85 per cent yield.

“The property is a modern, well-designed and resourced property, tenanted by two national engineering groups with long term plans to remain at this property and in this area,” he said.

“It is located in Kwinana Beach, in the midst of an industrial region that is growing in popularity.

“The attraction was driven by the fact that the old Fremantle port will be relocating in the near future into this area and a number of light and modern industries, new to WA, are moving into this area. This includes the lithium-processing industry.”

Mr Danagher said the property attracted strong interest during the sales campaign.