Kewdale warehouse sells for $5.7m

Western Australian transport and logistics business J S T Industries has purchased an industrial warehouse in Kewdale for $5.7 million from private investor Christopher Leaman.

Under the off-market deal, negotiated by Knight Frank, the company will move out of its Welshpool premises, where it rented, to the 15 Hodgson Way site.

Knight Frank Australia head of industrial investments Tom Iredell said the transaction represented a growing shift towards owners occupying their own assets.

“The WA industrial market is experiencing sustained levels of historically high tenant demand coupled with limited leasing opportunities leading to growing rents, which is in turn pushing tenants to owner occupation and placing upward pressure on land values,” he said.

The development potential for the asset, which comprises of a 725 square metre building on a 9,051sqm site, was also a drawcard.