An opportunity to acquire an industrial development site of scale within Western Australia’s most tightly held core eastern logistics precinct is up for sale.

The 45,703sqm property at Lot 76, Bushmead Road in Hazelmere is currently occupied by BGC Blokstone, which will be relocated. The property is on the market via an Expressions of Interest campaign run by Geoff Thomson and Tom Iredell of Knight Frank.

BGC will continue to occupy the site with a formal leaseback until 30 June 2024 giving the successful buyer a net passing income of $914,000 per annum plus GST.  

The property is improved with a combination of concrete, bitumen and brick paved hardstand areas along with a small storage shed and a heavy-duty drive through weighbridge.

The existing improvements allows purchasers to lease the existing hardstand improvements or develop the site to its highest and best use of up to 27,000sq m of built form industrial accommodation, subject to council approval.

Mr Iredell said there had been significant interest in the asset during the campaign so far, with buyers keen to acquire an institutional-grade development site in Perth’s most tightly held eastern industrial submarket.

“The property is suited to owner occupiers, investors and developers, and has been well received by the market,” he said.

“Value-add product and sites offering future development potential with an existing facility are the flavour of the month for investors as they both provide an opportunity to capitalise on rising market rents.

“This property will be sold with a leaseback, providing a 12-month income stream while an incoming purchaser seeks development approvals or a long-term hardstand tenant.

Mr Thomson said the property was positioned close to Perth’s major occupiers, on the main roads heavy haulage network allowing 36.5 B-double truck access to Bushmead Road.

“It’s close to Perth Airport, the Kewdale Freight Terminal and Perth’s major road network including Abernethy Road and Roe, Tonkin and Leach Highways.

“Upon completion, the nearby Abernethy Road/Lloyd Street upgrade will enhance heavy vehicle access to the site and wider Hazelmere locality.

“The surrounding area is well positioned for continued re-gentrification and undoubted growth as Perth’s inner core land supply diminishes.”

The Expressions of Interest campaign for the property will close at 4pm on Thursday, April 20.

To request a copy of the Information Memorandum please contact one of the marketing agents, Geoff Thomson and Tom Iredell of Knight Frank via the contact details below. 

Hazelmere industrial site for sale with 12-month leaseback – Knight Frank