Perth, 23 February 2021 – A prime englobo site spanning more than 17 hectares in Forrestdale is being offered for sale – paving the way for a large-scale development in the revered industrial & logistics hub.
CBRE’s Jarrad Grierson and Tom Iredell have been appointed to market for sale Lot 1 Keane Road – an undeveloped 17.77ha* parcel of land situated within Forrestdale Business Park West.
Mr Grierson said the site offered a unique opportunity to acquire a substantial footprint in one of Perth’s most prominent industrial locations.
“The site, which offers rare scale in an area with limited supply of industrial land, is suitable for a new industrial subdivision providing a range of diverse options to industrial operators, as well as investors in the future,” Mr Grierson explained.
“The lack of available General Industrial zoned land in the Forrestdale precinct – coupled with current development in the area - is anticipated to support an uplift in industrial land values in the area – and increase development upside.”
The site, zoned a mixture of Light and General Industrial, has circa 1,123m of frontage to Armadale Road and Tonkin Highway, providing outstanding exposure and ease of access to major transport routes.
Mr Iredell went on to add that several mooted infrastructure improvements in the Forrestdale area would further complement the site and attract investment interest.
“Major road upgrades at the intersection of Keane and Allen Roads will enable the movement of heavy vehicles in the area – further supporting the potential development of an industrial subdivision and influx of new industrial operators to the area,” Mr Iredell explained.
The property is being offered for sale via Request for Offers
*approx
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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