The Hector Street property attracted strong interest from investors.
Directors of a Balcatta-based construction company have purchased an Osborne Park unit for $1.1 million from local investors.
Jos Colvin and Daniel Power, of Western Projects, purchased 3/7 Hector Street West from Prosperity Holdings (WA), controlled by Michael Fisher and Bo Anderson.
Knight Frank Australia’s Lachlan Lewis and Geoff Thomson brokered the deal for the property, which attracted more than 100 enquiries.
“Osborne Park enjoys a rich mix of commercial property, supported by a strong residential catchment that benefits from high underlying land values and is well positioned for continued growth as demand for core land increases,” Mr Lewis said.
The property is within the Tower Plaza Business Centre strata development and sits on a 5,342 square metres of land and comprises of 11 strata units.
The self-contained unit was sold with vacant possession.
Mr Lewis added that Perth’s industrial market continued to be strong, with with quality properties sought after by buyers.
“We expect momentum to continue this year as industrial property continues to be one of the most favoured investment types,” he said.
The deals followed a series of transactions in Perth’s eastern industrial corridor in recent months.
