Linc Property is pushing ahead with the next phase of its Swan Brewery Industrial Estate in Canning Vale despite volatile market conditions.
The developer, which generated land sales of more than $70 million from the subdivision of the first two stages, has sold more than half of Stage 3, with eight remaining smaller lots of between 1100sqm and 4500sqm, and one 2.2ha site.
Stage 3 sale rates were between $385/sqm and $435/sqm, with four lots totalling 3.5ha sold. Stage 4 has been set aside for a purpose-built facility.
Selling agent Raine & Horne commercial director Anthony Vulinovich said Stage 5A, just off Baile Road between Craft Street and Production Road with lots of 2000sqm to 2700sqm, would be released to ensure supply to suit a range of buyer needs.
“The estate represents a rare offering for owner-occupiers to buy land to suit their exact needs with a premium industrial precinct close to the CBD and major arterial road networks,” Mr Vulinovich said.
“It caters for all sizes.” Linc Property director Ben Lisle said well-established businesses recognising the limited supply of industrial land in Canning Vale had shown interest.
“We are pleased with the sales results within the estate despite more volatile market conditions,” Mr Lisle said.
Since sales at the estate started in August 2014, Raine & Horne had sold 19ha, consisting of 59 lots. Stage 5A titles would not be available until September but this meant buyers could start design and gain approvals before settlement.
The 35ha estate is 13km south of the CBD, 16km from Perth Airport and 18km from Fremantle’s port, is serviced by Roe Highway to the west and Nicholson Road to the east. These link the estate to major arterial roads Albany Highway, Leach Highway, Tonkin Highway and the Kwinana Freeway.
Helen Shield / The West Australian – Property