Figures Perth Industrial and Logistics Q1 2025

Key Points: 

• Gross take-up of c.43,750 sqm was recorded for 1Q25. A total of c.311,000 sqm over the rolling 12 months - significantly above the 10-year average. 
• New floorspace added totalled c.17,500 sqm over the quarter. The current pipeline of new development supply between 2025 and 2027 is forecast to average c.205,000 sqm per annum, which is above the 10-year average.
• The pre-commitment rate for the forward pipeline (2025-2027) is now close to 60%. 
• Super prime net face rents increased 3.3% (q-o-q) and 6.9% (y-o-y) to an average of AUD 155/sqm. Super prime incentives have increased to an average of 15%. 
• Land value for 1.6 ha lots were steady q-o-q at an average of AUD 518/sqm, up 6.1% y-o-y. Smaller 0.25 ha lot values were also stable q-o-q averaging AUD 622/sqm, up 8.4% y-o-y. 
• Investment transactions of AUD 164 million was recorded for 1Q25 (for transactions ≥ AUD 5 million), with private investors being active in the market.   
• Yields were steady q-o-q across all grades with super prime and prime midpoint yields remaining at 6.3% and 6.5%, respectively.