Rare Industrial site changes hands for only the second time

Raine & Horne Commercial WA are pleased to announce the sale of 7 Radius Loop Bayswater, an extremely rare 14,784sqm industrial development site with exposure to Tonkin Hwy and located in the popular Tonkin Highway Industrial Land Estate, the sale is a record price for a parcel of this size and location.

Selling Agent, Simon Matthews commented, “Raine & Horne Commercial have been involved in this land estate from its Hesperia inception and development to completion. We are excited to be able to facilitate this land resale as this transaction represents only the third resale of land in the estate and we look forward to seeing the new owners’ development ideas come to fruition.”

The land was purchased by a local developer who is re-engineering the site layout with built form planning to incorporate two industrial warehouse developments and a further release of two smaller lots back into the market.

“The significant sale was in excess of $8,100,000 supporting the confidence that local developers continue to have in the WA industrial market” said Anthony Vulinovich, Director of Raine & Horne Commercial. “The industrial land market has gone from strength to strength with recent sales indicating a price land bump at circa 20% year on year from 2023 to 2024,” Mr Vulinovich said.

“Our office has numerous land requirements from 1,500sqm up to 10,000 sqm that we can’t place, as land for sale continues to be in limited supply, we hope with the recent land value increases, some owners may decide to cash out of the market and we experience a land or property supply increase.”