A wave of development in Perth’s south-east will position it as one of the city’s leading commercial hubs over the next decade.
The new Forrestdale Business Park - being developed by the State Government’s Metropolitan Redevelopment Authority (MRA) – will inject more than $275 million of development into the area, transforming Forresdale into one of the city’s most prominent business precincts.
Located approximately 33km from the Perth CBD and 10km from Jandakot Airport, the proposed Forrestdale Business Park covers 367 hectares and is set to be a major employment zone for the south east corridor.
CBRE’s Richard Cash and Andrew Woodley-Page have been appointed to sell a portion of the Forrestdale Business Park, comprising a 2.6 hectare site in a high profile corner location.
Located on the corner of Armadale and Celsius roads, adjacent to the strong performing Armadale Bunnings, the property supports a multitude of development options, including large format retail and light industrial.
Mr Woodley-Page said the site’s strategic position at the centre of Armadale’s Road network, including Tonkin Highway, would be a key factor underpinning buyer interest.
“The opportunity to acquire a significant footprint in the MRA’s Forrestdale Business Park is expected to attract interest from a wide pool of buyers, including local, east coast and offshore parties,” Mr Woodley-Page explained.
“With significant investment being made into the Forrestdale area, Perth’s south-east will undergo a major transformation over the coming years into one of our city’s leading commercial destinations.”
Mr Cash said the opportunity was well suited to a wide range of suitable developments.
“The property provides for a multitude of development options including but not limited to retail showrooms, quick service retail petrol filling station and light industrial, appealing to both owner occupiers and investors looking to capitalise on the area’s growth,” Mr Cash explained.
“More than 16,000 vehicles pass the site via Armadale Road on a daily basis, providing connectivity to and from the expanding south-east growth area.”
The property is being offered for sale via Private Treaty.
ABOUT CBRE GROUP, INC.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
