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Commercial Property Report

19/11/2014

ICONIC & HISTORIC LOCATION GIVEN PREMIUM FACELIFT

An open market campaign has now begun for The Swan Brewery Industrial Estate, offering a rare and possibly unrepeatable opportunity to acquire land in an organised , branded estate format with lot areas ranging from 1200sq m to three hectares within the industrial area.

One of Perth’s most exciting new industrial land opportunities, The Swan Brewery Industrial Estate is located at the former Swan Brewery site and sits in the heart of one of Perth’s most convenient industrial precincts, only 16km from Perth airport and 18km from Fremantle Port.

“The location between port and airport, linked with its prime metropolitan road linkages, provides unrivalled access and logistical advantages,” Raine & Horne Commercial Director and Sales Agent Anthony Vulinovich said.

This is an extremely exciting project given the iconic nature of the site and historic lack of supply within the area.

The estate is being developed by Linc Property, a Western Australian-based developer whose projects have collective end values of more than $500 million. Linc’s projects include Landsdale North Industrial Estate, Northlink Industrial Park, South Central Bulky Goods Centre and Midland Central Bulky Goods Retail Centre.

“This is an extremely exciting project given the iconic nature of the site and the historic lack of supply within the area,” Linc Director Ben Lisle said.

“We are very pleased with the market take-up to date and are looking forward to creating a landmark industrial estate.”

Prior to release on the open market, Raine & Horne Commercial undertook a highly successful off-market sales campaign for the estate, which has resulted in a high level of uptake from high-profile corporate groups, local owner-occupiers, developers and investors.

Flexible lot sizes with ‘general industrial’ zoning are being offered, accommodating a wide range of land uses.

Given the shortage of zoned industrial land in close proximity to the Perth CBD with access to key road networks, Mr Vulinovich said the limited remaining lots in The Swan Brewery Industrial Estate were a rare and exciting investment opportunity.

“The Swan Brewery Industrial Estate represents a once in a generation opportunity for occupiers and investors to secure a lot in the heart of the Canning Vale industrial precinct,” he said.
“Just 13km from the CBD, The Swan Brewery land is an iconic site rich in heritage and is set to become one of Perth’s premium industrial estates.

“The Canning Vale industrial area has attracted an impressive collection of blue chip businesses over the last 30 years, including names such as Toyota, Stratco, ABB, Smiths, Blackwoods, Metcash, BGC, BOC, Mitre 10, Capral and Lite ‘n’Easy, amongst many others.

“The Swan Brewery Industrial Estate allows for significant growth and development opportunities for both the existing businesses in the area, as well as new entrants that have previously not had the opportunity.”

Mr Vulinovich said during the site demolition process Raine & Horne undertook off-market discussions with a number of key potential land buyers.

“Initially, the intention was to deal on Stage 1 only, but the response was so strong that the majority of Stage 1 and 2 have now been sold off-market,” he said.

“This result exemplifies our unique product and confirms our pricing strategy is attractive.”

Mr Vulinovich said Stages 1 and 2 were being developed, targeting titles in April 2015.

“Stage 3 lots will be ready for titles three to four months after this, possibly as early as June 2015”, he said.

“Buying off the plan now gives buyers time to organise their finances, gain approvals and plan for construction.

“In addition, we do not place time covenants on development, which allows buyers further flexibility in when they develop their sites”.

The West Australian, November 19, 2014