Records show that an entity owned by Regent Motors boss Tyson Sutton bought the Osborne Park property for $19 million this year.
Regent Motors managing director Tyson Sutton has bought an Osborne Park warehouse from Iplex Pipelines Australia for $19 million.
Mr Sutton purchased 25 King Edward Road in May this year, via 25 King Edward Road Pty Ltd, which is owned by Mr Sutton’s property holding company, Ukemi Investments.
Ukemi is owned by Belconava Investments, which is ultimately owned by Mr Sutton, Australian Securities and Investments Commission documents show.
The 6,533 square metre warehouse sits on 3.6 hectares, with an office and hardstand component.
RP data shows that 25 King Edward Road bought the property from Iplex Properties Pty Ltd earlier this year.
The facility is a former Iplex Pipes manufacturing facility, and is now being used as a Tesla storage and delivery site.
Iplex Properties Pty Ltd is owned by Iplex Pipelines Australia, which is ultimately owned by Fletcher Building.
Flecher is embroiled in a battle with building giant BGC Australia over Iplex polybutylene pipes, which have burst in thousands of Western Australian homes.
BGC has estimated a $700 million damage bill, but Fletcher has labelled this an exaggeration.
The two companies are currently undergoing a mediation process, with the crux of the issue being whether the burst pipes were due to manufacturing or installation techniques.
Several other Western Australian builders affected by the pipes issue are also involved in the mediation.
Fletcher Building is also being pursued for a class action led by Perth home owner Tracey Watters.
RP data shows Iplex Properties purchased the Osborne Park facility for $1.82 million in 1998 from James Hardie Industries.
Regent Motors owns a number of WA car dealerships, including Scarboro Motors.
The business is a majority shareholder of Auto Classic, Galleria Motors, Geographe Automotive, and Westland Autos.
Industrious Property Group’s Warwick Irving brokered the deal for the King Edward Road property.
The agency’s December campaign marketed the property as having “short-term holding income”.
Fletcher Building is also reportedly seeking to divest about $1 billion of property in New Zealand.
