EPS HELPS HITACHI PURCHASE $15.49M FORRESTDALE SITE
Effective Property Solutions (EPS) has paved the way for Hitachi Construction Machinery Australia (HCA) to purchase 5.2 hectares of vacant industrial land in Forrestdale.
Head of Commercial & Industrial Sales & Leasing at EPS, Justin Mabarrack, said the site at 141 Allen Rd, which sits adjacent to HCA’s current facility, was bought for $15.49m from a private Forrestdale syndicate.
“HCA is enjoying sustained growth here in WA and, when EPS presented this opportunity, the company saw the potential for it to accommodate this growth,” said Mr Mabarrack.
“Having assisted with the due diligence process to support this acquisition, EPS is pleased to now be project managing a works program at 141 Allen Rd to pave the way for Hitachi to integrate this new space into its existing facility.”
Hitachi will also move its Welshpool operations to the Forrestdale site.
“This project represents another significant investment by Hitachi and underscores the faith the global equipment supplier has in WA’s economy,” said Mr Mabarrack.
He said that in a market where there was a shortage of development-ready land, the lack of available stock had led to an increase in land values in core industrial precincts.
“This has pushed buyers to seek alternate land and development opportunities in fringe suburbs,” he stated.
“As land continues to get absorbed at a rapid pace due to strong market demand, EPS is noticing owner-occupiers widening their search parameters and seeking expansive land holdings in secondary established suburbs, such as Forrestdale, to secure future headquarters to accommodate for their growth.”
Burswood-based EPS was established in 2020 and has experienced 300 percent growth over the past two years.
In 2022/23, EPS recorded more than $100 million in residential development site transactions, and in the 2023/24 financial year the group already has more than $200 million in residential, industrial and mixed-use development sites under contract.
Read more at Business News WA.