Pier Street warehouse in $12m sale
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Storage group National Storage have bought a Perth warehouse from Singaporean-headquartered property fund manager Peakstone for $12.1 million.
The warehouse, at 220 Pier Street, comprises of 2,390 square metres of building area on 3,490sqm of land.
The site is zoned for residential development and has been on the market since July last year.
The building last sold in 2015 for $10 million.
Ray White Commercial WA’s Brett Wilkins and Luke Pavlos brokered the deal.
Earlier this year, Peakstone was granted WA Planning Commission approval for a $185 million proposal to build a 36-storey apartment building on Mill Point Road.
The group also owns 167 St Georges Terrace and 55 St Georges Terrace.
In addition, it owns 182 St Georges Terrace, which it put on the market last year.