SINCE it was opened in 1975, LandCorp’s Canning Vale Industrial Estate has set new standards in the development of industrial areas and now, with less than 20 lots left in the estate, developers and business owners are scrambling to become part of one of WA’s most prestigious industrial addresses.The 640ha estate has been a LandCorp success story, with its occupants reading like a list of the who’s who of Perth industry – The Swan Brewery, Coles and FAL distribution centre, Arnotts, Boral, Mitre 10 and PGA Logistics.Land prices have been on a steady rise, with the Knight Frank 2000 statistics indicating 1ha sites were sold for between $75 and $80 per square metre, up more than 80 per cent on the 1990 sale price of $45 per square metre.And, according to Knight Frank commercial and industrial director Martin Reeson, the profile and reputation of the estate also has made an impression on investors who, in some cases, have been prepared to accept lower yields on properties in exchange for an address in Canning Vale.The secret to Canning Vale’s success, according to LandCorp chief executive officer Ross Holt, lies in the long-term vision, extensive planning and insistence on quality applied to the development of estate.“Its success can be attributed to the overall quality of the estate, thoughtful long-term planning by LandCorp which has resulted in excellent layout, quality occupants and improvements, and the general presentation and landscaping of the area,” Mr Holt said.“It has attracted some of the biggest names in industry and played a major role in LandCorp meeting its brief of ensuring there is sufficient land to support the State’s economic growth.”Canning Vale was the first industrial estate in WA to develop the concept of strict design and landscaping guidelines to ensure the integrity of the development, something Mr Reeson believes is a major factor in the estate’s popularity.“LandCorp concentrated on a high standard of presentation, which not only protects people’s investments in the area but makes Canning Vale a good place to work,” he said.The Swan Brewery was the first business to take up residence in the estate in the mid-70s and was soon followed by many major companies, who believed Canning Vale was the best location for their WA headquarters.Well suited to bigger operations, Canning Vale has become home to a large number of warehouse and distribution operations, along with fabrication, manufacturing and a small amount of retail.Stage Two of the Canning Vale Business Park, the last land release, is now on the market and Knight Frank has 18 lots up for sale.The lots range in size from 2000sqm up to 4.09ha and in price from $280,500 to $2.9 million. Mr Reeson said there already had been a great deal of interest shown in the sites.Doric Constructions, acting as project managers on behalf of a private syndicate, are also offering a design and construct development to those considering relocating to, or establishing at, Canning Vale.Doric Constructions property development and investment spokesman Andrew Graham said the 7713sqm property was one of the last big sites left in the area and presented an excellent opportunity for businesses to move into a purpose-built facility.Mr Graham said there were many advantages of locating at Canning Vale, one of which was the estate’s excellent road infrastructure that allowed for easy access to the freeways and major highways.While it is expected to take a year to fill Canning Vale, the question of “where to now” has already been answered. LandCorp has identified several potential sites for industrial estates and recently staged the first industrial land release at Access Park, Forrestfield.Colliers Jardine industrial sales director Craig Robertson said the 61ha Access Park estate provided an alternative land supply of an equal, if not better, standard to that of Canning Vale.“This portion of land will provide for big industrial users who can’t find land at Canning Vale,” Mr Robertson said.“We expect this land to be taken up in two to three years and, following that, there will be more activity in the Bibra Lake and Jandakot areas.”Colliers Jardine has a raft of blocks for sale in the LandCorp estate, ranging in size from 9600sqm to 3.5ha with prices from $65/sqm to $83/sqm.Future estates of a comparable size to Canning Vale have been identified in the Hope Valley-Wattleup and Neerabup areas. These are estimated to be between 600ha and 1000ha.
© Business News 2017. You may share content using the tools provided but do not copy and redistribute.