22/07/2015 - 14:34

Pickles Auctions spends $35m on Aspen property

22/07/2015 - 14:34

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Pickles Auctions spends $35m on Aspen property
Pickles Auctions will consolidate its operations to this industrial estate.

Pickles Auctions is shifting to the southern suburbs, having bought a 200,232 square metre industrial site in Spearwood from ASX-listed Aspen Group.

Aspen Group initially announced the $35 million deal, which covers around half of its Spearwood Industrial Estate, in April, but did not disclose the identity of the buyer.

Selling agent Colliers International said today that Pickles Auctions was behind the purchase, with the national group to consolidate its Perth operations to the property.

Colliers International director of industrial special projects Wayne Chorley said the size and location of the land made it a great fit for Pickles Auctions.

“Bibra Lake is a sought after industrial precinct in that southern corridor, but has limited land supply – so the chance to secure such a significant site, with hardstand and considerable open space for vehicle storage, was one the company was quick to act on,” he said.

Mr Chorley said the proposed Perth freight link’s Roe Highway extension also played a part in the appeal of the property for Pickles.

Meanwhile, Burgess Rawson director Brian Neo has brokered the sale of a retail property on Broadway in Nedlands for $2.2 million.

The property is located at 153 Broadway and is tenanted by luxury bathroom retailer Roger Seller, which has a further five years to run on its lease, with a five-year option.

The transaction represented a yield of 5.5 per cent.

Mr Neo said the property was highly sought after, with more than 65 enquiries to buy received.

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