Hitachi in $17m Forrestdale buy

Hitachi Construction Machinery Australia has purchased a 5.2-hectare vacant lot in Forrrestdale from a syndicate of investors for $17.05 million.

RP data records show that the machinery giant’s Australian arm has acquired 141 Allen Road from Forrest Property Syndicate Pty Ltd.

Australian Securities and Investments Commission records show Forrest Property Syndicate as jointly owned by 12 individuals, including Maria Della Bona, of the family that founded WA Limestone, Land Surveys founder Peter John Rullo and Michael Taddei.

Peter, James, David and Steven Della Bona are listed as directors of an entity that part owns Forrest Property, PMR Quarries.

Michael Taddei is related to the Taddei family that founded industrial property group Hero Property, but has nothing to do with the company.

Effective Property Solutions (EPS) brokered the deal, which will allow Hitachi to integrate the space into its existing facility adjacent to the site.

EPS head of commercial and industrial sales Justin Mabarrack said the acquisition paved the way for Hitachi’s expansion.

“HCA is enjoying sustained growth here in WA and, when EPS presented this opportunity, the company saw the potential for it to accommodate this growth,” he said. 

“Having assisted with the due diligence process to support this acquisition, EPS is pleased to now be project managing a works program at 141 Allen Rd to pave the way for Hitachi to integrate this new space into its existing facility.” 

Hitachi will also move its Welshpool operations to the Forrestdale site.