Weir Minerals warehouse sells for $8m

A private investor sold the 2,700 square metre building at 41 Kayili Road West Kalgoorlie, which contains an office, a workshop and a 10 and 25 tonne gantry crane.

The engineering consultant will continue to occupy the warehouse, committing to a 10 year lease with options to continue to 2035.

Rental income at the property is $544, 487 per annum and the sale represented a 6.68 per cent yield.

Burgess Rawson negotiated the deal in conjunction with First National Kalgoorlie.

Burgess Rawson director Rob Shield said the property was marketed via the real estate group’s national portoflio auction process.

The property sold for $990,000 in 2019.