Fini family sells Innaloo office

The Fini family has sold an Innaloo office building to a NSW investor for $1.2 million.

Jonathan Nichols, of Avencas Capital, has purchased 4 Baumea Way from Fabray Pty Ltd, in a deal brokered by Ray White Commercial WA’s Brett Wilkins.

Fabray is wholly owned by Fini Group founder Tony Fini, with its directors Adrian Fini, his son Christian Sasha, and Gian-Maria Fini.

The Baumea Way property, occupied by the Luekaemia Foundation of Australia, forms part of Hesperia’s Stirling Cross apartment project, which completed its first stage in 2017.

The development contains a significant healthcare component and is the base of the Leukaemia Foundation’s blood cancer centre.

The centre includes eight two-bedroom apartments for patients, which Adrian Fini and his wife Michela are significant donors to.

Adrian Fini is a director of Hesperia, but the company split into two divisions earlier this year, with its industrial and urban development companies operating separately.

The Leukaemia Foundation has occupied the Baumea Way property since 2018, and has about 4.5 years left on its lease.

Mr Wilkins said the transaction represented a solid commercial investment.

The property sold on a 7 per cent yield, and follows Fabray’s divestment of nearby 56 Ellen Stirling Boulevard in 2021 for $1.15 million.