Industrial warehouse snapped up for $1.1m
A standalone industrial warehouse within the prime industrial precinct of Bibra Lake has been snapped up by an owner-occupier for $1,145,000.
The 46 Bushland Ridge property came with cold storage included, offered 656 square metre building area and was sold as vacant possession. It was marketed and sold by Ray White Commercial (WA) sales and leasing associate Enrique Reyes.
Mr Reyes said the property was originally built with the operating business being a fruit and vegetables supply company.
“It was attractive because of the grease traps, fridges and solar panels that were appropriate for most food businesses,” he explained.
The property also featured double roller door access, front office amenities, three cold storage units, air conditioning, secure front yard parking and container lay-down area.
Ray White noticed a number of buyers have been looking for approved food premises in the metro area, but were struggling to find one. Most of the other available properties in the market were too big, and the alternatives too small.
“Industrial property in Bibra Lake had its challenges recently. However, being a unique offering, our marketing attracted both food and non-food operators,” Mr Reyes said.
“The property was launched to the market in the middle of March 2019, and went under contract in late May 2019. It was only on the market for less than three months, and considering how the market has been, it was quite a short campaign.”
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