Welshpool industrial building sells
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A Welshpool industrial building has sold to car mechanic company CWC Lube Mechanical Services for $2.37 million.
Access Engineering Group managing director Damian Beausang, listed as a major shareholder of Moongold Pty Ltd sold the 35 Furnace Road building to the Repco-backed mechanic in September.
LJ Hooker Commercial Perth’s Colm McHugh said the property sold after less than a week on the market.
“This sale provides more evidence of the strength of the industrial market,” he said.
“With multiple enquiries and inspections within the first few days of the campaign, the property went under after five days, above asking, after multiple offers.
“With industrial vacancy rates below one per cent, demand from tenants and owner occupiers will remain strong.”
The 720 square metre office and warehouse on a 2,302sqm site last sold for $540,000 by Realgar Pty Ltd in August 2001.