Realside Ovest has expanded its portfolio of industrial assets with the acquisition of two adjoining properties in Kewdale for $6.3 million.
The Julie Drago-led company bought vacant blocks at 15 Casella Place and 12 Kingscote Street for $4.3 million and $2 million respectively from family office Raeside Capital.
This follows the industrial fund’s acquisition of 7 Casella Place in November last year for $6.27 million.
All three assets will go within the Ovest Industrial Fund No.2 and bring the group’s Kewdale landholding to 23,888 square metres.
Realside Ovest said the Kingscote Street acquisition allowed for an increase in size to its planned warehouse at 7 Casella Place, where it intends to build an 8,000sqm workshop and 300sqm of office space.
In addition, Realside Ovest plans to develop a 4,075sqm workshop and 300sqm of office space at 15 Casella Place.
“This purchase aligns with Realside Ovest’s commitment to strategic growth and sustainability,” Realside Ovest chief executive Julie Drago said.
“Realside Ovest takes pride in future-proofing its builds, incorporating sustainable practices such as passive air design and other eco-friendly measures into the construction process.”
Realside Ovest's Kewdale landholding. Photo: Realside Ovest
