28/07/2020 - 15:38

Pandemic no problem for LJ Hooker deals

28/07/2020 - 15:38

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LJ Hooker Commercial WA has not let COVID put a dent in its sales and leasing pipeline, conducting more than $40 million worth of deals during the past quarter.

Pandemic no problem for LJ Hooker deals
LJ Hooker Commercial shifted its head office from West Perth to Subiaco earlier this year. Photo: LJ Hooker

LJ Hooker Commercial WA has not let COVID put a dent in its sales and leasing pipeline, conducting more than $40 million worth of deals during the past quarter.

This included the near-$12 million sale of an industrial facility at 43 Sparks Road in Henderson, as well as the $7.2 million off-market sale of a service station in Meadow Springs on Mandurah Road.

Leasing deals included securing Acton Corporate on a five-year term at 500 Stirling Highway in Peppermint Grove, and leasing an office down the road at 394 Stirling Highway to African Drilling Company for three years.

Earlier in the year, LJ Hooker Commercial relocated its head offices from West Perth to the Colonnade shopping mall in Subiaco, after it secured management of the property last year.

Asset manager Ryan Abbott said while he had seen some industry heavyweights reduce resources to move profits to the east coast or offshore offices, LJ Hooker Commercial had instead invested in and grown its Perth team.

Mr Abbott said the agency’s local ownership structure and a nimble business model had been critical to its success.

Property deals over the past fortnight

$3.2m for Bibra Lake land

A private owner-occupier has purchased a 10,800 square metre landholding at 41 Miguel Road, Bibra Lake, for $3.2 million. The property comprises 1,186sqm of office and workshop space, as well as a 10-tonne gantry crane in situ. JLL head of industrial Nick Goodridge said the transaction reinforced the underlying demand and high levels of liquidity in Perth’s industrial sector.

Units sell for $1.85m

Ray White Commercial has sold two joined strata warehouse units to a local business for $1.85 million. The units are located on a 1,506 square metre site in Osborne Park, featuring a combined 882sqm of warehouse/office space. Ray White Commercial WA sales and leasing agent Tom Jones said the street-front assets were in a sought-after commercial precinct surrounded by premium catchment areas.

First day sale

LJ Hooker secured a buyer for 4/355 Stirling Highway in Claremont within the first day of going to market. The agency listed the property for sale or lease, which director Brian Neo said was sold very close to asking price. Located near Claremont Quarter, the 231 square metre asset had previously been occupied by Caporn Young for 15 years.

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