MORE than 50 per cent of currently developed land in the Australian Marine Complex industrial precincts has been sold. Since being appointed to handle the freehold land sales Jones Lang LaSalle industrial sales and leasing manager Geoff Fraser said...
MORE than 50 per cent of currently developed land in the Australian Marine Complex industrial precincts has been sold.
Since being appointed to handle the freehold land sales Jones Lang LaSalle industrial sales and leasing manager Geoff Fraser said 25 of the 35 lots in the Support precinct and Heavy Fabrication precinct had been sold to marine-related businesses.
Boat builders, sand blasting and marine industrial paint companies are some of the businesses choosing to relocate to the newly developed marine and fabrication precinct. LandCorp plans to release a further six blocks by the end of the year.
Mr Fraser said that the precincts’ affordable land prices and the area’s future economic potential once the common user facility became operational was attracting buyers.
LandCorp has priced the ACM freehold industrial land at $60/sqm plus GST.
Mr Fraser said that most industrial land in Perth was priced at around $80/sqm.
“This is the best value industrial land to be found in the Perth metropolitan area.”
Mr Fraser said the land carried a lower sale price to encourage marine related businesses to move to the area and because the location was not an established industrial area.
“It is not a Kewdale, Welshpool, or Osborne Park, it doesn’t have the road network.”
Approximately two thirds of the total area of the ACM is available for freehold sale and LandCorp should roll out another 40 freehold industrial blocks over the next two to three years.
The land immediately adjacent to Cockburn Sound and the Common User Facility will be offered under leasehold arrangements through LandCorp, which is in discussions with several potential lessees for lots adjacent to the CUF.
Revitalisation of the new industrial precinct has begun with the commencement of extensive tree planting and landscaping.
LandCorp chief executive Ross Holt said landscaping was a feature of all LandCorp developments and the exposed coastal area of the precinct meant planting waterwise native species that were well adapted to dry summers and strong winds would be used.