27/11/2014 - 14:31

Canning Vale retail site sells for $17.7m

27/11/2014 - 14:31


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The retail property located at 888 Nicholson Road.

A syndicate headed by Quick Corporate Australia chairman Amu Shah has bought a retail property in Canning Vale for $17.7 million, in a deal brokered by Vend Property.

The property is located at 888 Nicholson Road and is anchored by large-format retailers Dan Murphy’s and Kambos, while Repco, Pet City and Vet West are also tenants.

Vend Property managing director Jeff Klopper handled the sale on behalf of a private seller, saying the deal reflected a yield of 8.13 per cent.

Meanwhile, Colliers International and Altegra Property Group have listed an office/warehouse property in Maddington for sale, placing a $4.5 million price tag on the asset.

The property, located at 118 Maddington Road, comprises a 1,608 square metre warehouse, a 209sqm office and 6,900sqm of hardstand area on a 1.2-hectare site.

Colliers International industrial sales and leasing executive Jeremy Parasiliti said Maddington was becoming a popular area because of its close proximity to Welshpool and its attractive, affordable rents.

“Less traffic in the area and excellent access to the Perth arterial network adds to the appeal of Maddington for industrial tenants,” Mr Parasiliti said.


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