10/01/2022 - 15:28

Jandakot industrial land in $5.75m sale

10/01/2022 - 15:28

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The prime industrial land sold for a total of $9.62 million.

Jandakot industrial land in $5.75m sale
The Jandakot Freeway Industrial Estate. Photo: Ray White Commercial WA.

The Jandakot Freeway Industrial Estate has been completely sold, with the final transaction taking place in December.

Ray White Commercial WA sold a 2,015 square metre lot for $680,000 to a local business late last year, bringing the agent’s total sales in the estate to $5.75 million.

The agent brokered 60 per cent, or 1.5 hectares, of land in the estate, on the corner of Solomon Road and Cutler Road.

The land, totalling 2.45ha, was bought by local developer DMJ Holdings in 2017 and was the only new subdivision in the prime industrial area in a decade.

The developer offered small parcels to businesses that would prefer to have their own standalone property instead of a strata factory unit.

The total sale value of the land was $9.62 million, over four years.

Ray White Commercial WA agent Enrique Reyes explained that the property was developed in two stages, featuring lots from 1,124sqm to 2,098sqm.

“It was able to supply the need for local businesses to secure their own land parcel suitable for a small standalone building within a prime industrial precinct,” he said.

Mr Reyes said high demand for the land reflected the strong performance of industrial land in 2021.

“Almost all the lots were sold at asking price and, as the general market for industrial properties improved this year, we were able to secure multiple offers for the lots being sold,” he said. 

“We still have a few buyers who missed out and we are hoping to find them other properties to purchase.”

 

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