The green title corner site, positioned prominently along busy Belgravia Street and just 600 metres from the Great Eastern Highway intersection, attracted significant attention from owner-occupiers thanks to its strategic location and vacant possession offering.
The property comprises a 365sqm office/warehouse*, including 115sqm of office and amenities* and 250sqm of high-functioning warehouse space*. Constructed with reinforced concrete floors, brick elevations and a metal deck roof with intermittent translucent sheeting, which provides natural lighting.
Demand for the asset was immediate and intense. “We saw exceptional interest from the moment the campaign launched,” said Chris Matthews, RWC WA. “Properties offered with vacant possession remain in extremely high demand, this one generated over 50 enquiries, 15 inspections and 3 offers in the first week, and we had it under contract inside 1.5 weeks.”
The campaign utilised a focused digital and print media approach to capture strong local owner-occupier and investor activity.
“This sale represents a new benchmark for Belmont industrial property,” said Liam Pittaway, RWC WA. “Achieving $1,735/sqm is a clear indication of how competitive the market has become for well-located facilities with immediate occupation potential. The result exceeded expectations and highlights the depth of demand in this asset class.”
Both the seller and purchaser were local, underscoring the strength of local business confidence in the Belmont airport industrial corridor.
“We’re continuing to see owner-occupiers driving the market, particularly for well-located standalone sites with functional improvements. Scarcity of stock is pushing values to new levels, and this transaction is a perfect example of that trend," Mr Pittaway said.
