EPS BROKERS NEW LAND DEAL IN HIGH DEMAND KWINANA BEACH
Specialist property services firm Effective Property Solutions (EPS) has topped off a year of high growth by brokering the $5.59 million sale of a Kwinana Beach property.
Head of EPS’ Commercial & Industrial Agency Justin Mabarrack said 28 Thomas Road was snapped up when EPS presented the off-market opportunity to industrial property investment firm Realside Ovest.
The established industrial property, purchased off NTAC Pty Ltd, has a land area of 21,900sqm, with minimal required improvements and a low site coverage of 9.8 percent.
“28 Thomas Rd has a short-term lease in place, but the longer-term plan will likely see Realside Ovest develop the site for their existing industrial fund,” said Mr Mabarrack.
“With most established industrial properties in the precinct owned by companies who’ve been operating there for many years, Kwinana Beach is notorious for being tightly held, meaning new stock rarely becomes available to the open market.
“EPS is very pleased to have identified this prime development opportunity and assisted our valued client, Realside, with the acquisition.”
Burswood-based EPS, a specialist property services firm launched in 2020, has experienced 300 percent growth over the past two years.
In the 2023/24 financial year, the group already has more than $200 million in residential, industrial and mixed-use development sites under contract, with industrial acquisitions and sales comprising $48.9 million of that.
“Perth’s industrial property sector has experienced historically low vacancy rates over the past two years due to the scarce supply of development-ready land and the lack of established properties available throughout the metropolitan area,” said Mr Mabarrack.
“This has created strong demand from industrial tenants for quality purpose-built facilities and provided developers and investors with sustained rental growth, which we forecast to continue into 2024.”
EPS recently launched a specialised development services division to deliver end-to-end property development services to small and mid-tier residential property investors and developers.
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