Burgess Rawson’s Zomart He, Rob Selid, Sam Mercuri and Beau Coulter have negotiated the sale of a high-calibre industrial asset in Wangara for $9.852 million.

Mr He said the Expressions of Interest campaign attracted significant attention, receiving seven offers with six offers from buyers of Asian heritage.

“The strong response we received underscores the exceptional value of this property and the confidence investors have in the Wangara precinct.”

Mr Mercuri said Perth boasts one of Australia’s most sought-after industrial markets, with a near-record low vacancy rate of 1.6% as of Q4 2023 emphasising the high demand and strategic value of the Wangara area.

"Perth’s industrial market has emerged as a standout within Western Australia's commercial sector, fuelled by growing demand for larger industrial lots and a scarcity of developed land."

Located at 29 Excellence Drive, the property features a newly renewed 7-year lease to EHI Australia, with additional 5-year options extending the lease to 2041. The net income from the property stands at $680,000 per annum.

The investment is secured with investor-preferred net lease terms, with EHI Australia responsible for all outgoings, including land tax and insurance. The lease also includes fixed annual rent increases of 3.25%, providing assured growth.

Set on a substantial 10,016 sqm freehold site within the sought-after Wangara Industrial precinct, the property includes a modern 5,817 sqm office warehouse and an additional 825 sqm enclosed unloading area.