The sale of a Perth industrial site for $20 million has helped close out an otherwise quiet year for major industrial transactions in Western Australia, Colliers International says.

Positioned in the highly sought-after Henderson Park precinct of the City of Cockburn, the 84,404 square metre site at 150 Quill Way was sold to Australasian Property Investments Ltd for $20 million.

Colliers International Industrial Director Greg O’Meara managed the expressions of interest campaign for the vendor Matrix Engineering, with the sale involving a 20-year lease. 

Source: Colliers International

Mr O’Meara said there were only three transactions over $20 million in WA last year with two others coming just under that threshold, indicating interstate investors were investigating the Perth market but generally required some scale, preferring not to purchase a single, standalone asset.

“The buyer saw value in the property’s locational characteristics, attractive initial yield, long WALE and long-term value-add development potential," he said. 

"WA provides excellent value for institutional level investors with returns in WA demonstrably higher than in the east.

"However, with the low cost of money, and a shortage of quality stock in WA, yields are tightening."

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