A premium industrial property in one of Perth’s most tightly held industrial precincts has sold through Cushman & Wakefield’s Andrew Fife and Nick Goodridge for $9.4 million reflecting an initial yield of 6.2%.

The site at 77-83 McDowell Street, Welshpool, occupies a significant 8,871sqm landholding in the city’s sought-after eastern corridor and was acquired by a Western Australian-based investor group.

The asset is fully leased to Australian Independent Rural Retailers (AIRR), a wholly owned subsidiary of Elders Ltd, and comprises a refurbished 4,596sqm office and warehouse facility. Offering a 5-year WALE from December 2024, the property generates a net income of $620,000 per annum, with fixed CPI-linked rental increases.

Zoned General Industry, the corner site offers strong connectivity to key freight and logistics infrastructure including Perth Airport, Fremantle Port, and Kewdale Freight Terminal.

Mr. Fife said, “The marketing program drew strong interest at a local and national level, ultimately being acquired by a WA-based investor group who have added the asset to their existing $100 million portfolio owned by them across the country.”

Mr. Goodridge added, “The sale represents one of the few investment transactions to occur in Perth over the last 12 months and highlights the ongoing demand for leased industrial investments in WA, which is being fueled by a market that is benefitting from a marked disparity between supply and demand and continued rental growth. Welshpool is one of the nation’s highest barriers to entry investment markets, with opportunities to acquire industrial assets extremely rare.”

Mr. Fife added that the sale further underlines the strength of Perth’s industrial sector, particularly in core infill locations where land scarcity and tenant demand continue to drive values.

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