Industrial unit in Perth’s sought-after Osborne Park sells following strong buyer demand

The office/warehouse property at 3/7 Hector Street West in the Tower Plaza Business Centre has 323sq of strata area, with four exclusive-use car parks.

It was purchased by a local business for circa $1 million excluding GST in a deal negotiated by Lachlan Lewis and Geoff Thomson of Knight Frank on behalf of the vendor.

Mr Lewis said there were more than 100 enquiries from potential buyers for the property, with four offers made.

“Buyers were drawn to the property given its location within the landmark Tower Plaza Business Centre in Osborne Park, on the iconic Hector Street West,” he said.

“The strata development has great accessibility with direct connection to Scarborough Beach Road and the Mitchell Freeway.

“Osborne Park enjoys a rich mix of commercial property, supported by a strong residential catchment that benefits from high underlying land values and is well positioned for continued growth as demand for core land increases.”

The Tower Plaza Business Centre strata development sits on a 5,342sq m landholding and comprises of 11 strata units ranging in size from 190sq m to 1,518sq m.

The unit sold was self-contained, with internal kitchenettes and washroom amenities. Other features of the include a high truss, a high front roller door, a rear roller door providing access to the rear yard and roadside corporate signage.

Unit 3 was sold with vacant possession, after previously been occupied by an engineering business and until recently was leased to a blue-collar training organisation.

Mr Lewis said: “Perth’s industrial market continues to be strong, with quality properties sought after by buyers. We expect momentum to continue this year as industrial property continues to be one of the most favoured investment types.”

For more information contact Lachlan Lewis or Geoff Thomson