Dowsing Group buys into Landsdale
Civil contractor Dowsing Group has bought into the northern suburb with a $4.14 million acquisition.
Dowsing Group has purchased an industrial property in Landsdale for $4.14 million from a local investor, in a bid to expand to the premises.
Bocalusa Properties, controlled by Dowsing Group directors Bohdan, Luke and Samuel Dowsing, purchased a 6,000 square metre site at 51 Christable Way from Richard Farris.
The property comprises a heavy machinery transport yard and is currently occupied by Zenith Low Loaders.
RP data shows that the property last transacted for $640,000 in May 2021.
Effective Property Solutions Pty Ltd (EPS) senior head of industrial and commercial Justin Mabarrack brokered the deal
“We conducted an off-market process, directly canvassing more than 30 property owners and successfully unlocked several opportunities for Dowsing Group to consider,” said Mr Mabarrack.
“Together, we approached each target, with 51 Christable Way the preferred space for them to set up a northern base to seamlessly service new contracts, and negotiated an offer, handling this important acquisition all the way through to settlement.”
The yard, zoned general industry, will remain leased until early next year, when the purchaser plans to move in.
Dowsing Group employs more than 140 people nationally and mainly works on road projects, including the safety barriers at the Bunbury Outer Ring Road.
It has offices in Perth, Maddington, Kalgoorlie and NSW, as well as a presence in New Zealand.
Mr Mabarrack added that demand for these sites was high, while availability was low.
“With limited land availability and growing constraints on new industrial supply, land values across core precincts, such as Wangara, continue to rise,” he said.
“Owner-occupiers who are open to exploring fringe or emerging industrial areas are finding more opportunities, but even these locations are now starting to experience the same pressure, as demand consistently outpaces supply.”
