The Tonkin Highway Industrial Estate is one of Perth’s most exciting new industrial land opportunities, located on Railway Parade in Bayswater, just 8 kilometres east of the Perth CBD and 3 kilometres from Perth Airport.
MEDIA RELEASE: The Estate is located adjacent to Tonkin Highway which provides connections to Roe Highway, Reid Highway, Great Eastern Highway and Leach Highway. Train and bus access is located only 800m from the Estate.
The Estate will feature well landscaped open areas, entry statements, on-street parking, substantial street trees and flexible General Industrial zoning with lot sizes ranging from 1,200m2 to 2ha. Specialised planning precincts within the Estate further accommodates buyer versatility with higher office ratios, reduced street setbacks and generous plot ratios all featuring.
In addition, many lots benefit from prime exposure to Tonkin Highway which has over 70,000 cars per day driving past the Estate. This is expected to further increase upon completion of the WA Government’s NorthLink major road upgrade project.
Given the shortage of zoned industrial land close to the Perth CBD with access to key road networks, the remaining lots within The Tonkin Highway Industrial Estate represent a rare and exciting investment opportunity.
An open market campaign has now begun for prime lots within Stage 1 of the Estate.
Prior to release on the open market, Raine & Horne Commercial undertook a short off-market sales campaign with selected buyers with a very high level of uptake from those approached resulting in 28 Lot sales from 1,110 sqm to 20,000 sqm.
“The Tonkin Highway Industrial Estate represents a once-off opportunity for corporate groups, owner-occupiers, developers and investors to secure industrial land within a landscaped business park just 8 kilometres from the Perth CBD, and on one of Perth’s main logistics routes.
Lots within the Estate have been priced below historic land prices in the area with pricing that is extremely attractive relative to Osborne Park, Balcatta and Belmont, which are the only industrial locations comparable in terms of proximity to the CBD.
With over a kilometre of frontage to Tonkin Highway, the $1.1 billion NorthLink WA project is a huge selling point given the benefits it will provide for exposure and major road access via the upgraded Collier Rd intersection.
The supply of land in Bayswater and Bassendean has been extremely limited in recent years. The new Estate provides one of the last remaining opportunities for owner-occupiers in ageing facilities within Bayswater, Bassendean and surrounding areas to relocate to new premises within a high quality, branded and landscaped estate.
Titles for Stage 1 are expected later this year, buying off the plan now gives buyers time to secure a lot specific to their exact requirements, organize their finances, gain approvals and plan for construction.
We undertook limited off-market discussions with selected land buyers and parties who sought out information over the last 6-8 weeks. This has seen 86,000sqm of land contracted and over 50,000sqm of land of various sizes in contract discussions. Given the attractive pricing and strong off-market take-up, we anticipate that the first stage will sell out well before issue of the titles”.
The Tonkin Highway Industrial Estate is being developed by Linc Property, a Western Australian developer specialising in the development of high quality industrial estates.
Linc Director Ben Lisle said “We have been interested in the redevelopment of this site for more than 10 years. This is a very rare opportunity to acquire centrally located industrial land and we have been extremely pleased with the level of commitment and strong interest pre-launching the open market campaign. We have been working closely with the Bayswater Council and our highly skilled consultant team to create an Estate that will deliver high quality landscaping and design outcomes, positioning Tonkin Highway Industrial Estate as Perth’s best new industrial address”.
For further information contact:
Anthony Vulinovich, Raine & Horne Commercial on 0411 516 343.