WA Site Sold for $1.2 Million

Naval Base Site Sold for $1.2 Million

A factory and office on a substantial site at Naval Base in Perth’s south has been sold for $1.2 million by Ray White Commercial.

The property at 53-55 Frederic Street, Naval Base, was sold by Martin Vogt of Ray White Commercial Perth on behalf of Lavan Legal, acting for mortgagees in possession the National Australia Bank.

Mr Vogt said the Frederic St site is zoned general industrial and includes a factory and office of approximately 365 sqm.

He said the property was purchased by local business Western Enterprises Pty Ltd to accommodate their growing operations.

“There was strong demand for this 4,112 sqm property with a tight group in competition for the site,” he said.

“The response to our Expressions of Interest campaign demonstrated the demand for general industrial land in the established pockets of Kwinana and Naval Base.

“We have been approached by other owners in the Kwinana and Naval Base region who are all seeking either development and construction tenants or are considering selling.

“These older established industrial areas offer few restrictions and red tape so heavier industrial users tend to favour these locations.

“There are also no development guidelines to adhere to aside from the normal local government and EPA guidelines that apply to all sites.”
ENDS