Major construction ready estates offer significant scale and opportunity in Perth’s supply constrained industrial market

Two major Perth industrial estates have been listed for sale by investment group Harvis in a move tipped to generate significant interest from developers, REITs and syndicators.

CBRE’s Chris O’Brien, Andrew Bell and Lee Holdsworth, together with Industrial & General’s Matt Lyford have been jointly appointed to market the Northern Gateway Industrial Parks, which offer a combined land area of approximately 307ha.

With zoned Perth industrial land in extremely short supply, the assets are expected to sell for a combined value of between $100 million and $150 million.

Harvis Managing Director Sam Wilson noted, “Following the successful development delivery and physical opening of both estates, and after more than a decade of ownership, Harvis is bringing the Northern Gateway Industrial Parks to the open market for sale. The estates have been substantially de-risked through secured access, zoning, infrastructure delivery and market acceptance, making them ideally suited to major industrial developers, REITs, and strategic users seeking scale and long-term positioning in Perth’s northern metro corridor.”

The offering encompasses the Bullsbrook Industrial Park (circa 186ha, with approximately 165ha of developable land) and the Muchea Industrial Park (circa 121ha, with approximately 90ha of developable land).

CBRE’s Industrial & Logistics, Capital Markets Executive Director Chris O’Brien said the estates provided construction ready industrial lots ranging from 2,500sqm to 30ha, which could accommodate heavy maintenance & fabrication, mining equipment & services, transport & logistics and manufacturing.

“The opportunity provides bespoke industrial super lot sizes unable to be delivered elsewhere in Perth, with planned rail logistics connections, zoning to accommodate 24/7 industrial operations, connections to government water and waste networks and planned green energy initiatives for sustainable power,” Mr O’Brien noted.

Bullsbrook Industrial Park is also being offered with a potential 20ha development arrangement with Mineral Resources Limited (MinRes), which has a strategic long-term requirement for logistics, distribution and workshop facilities north of Perth.

Mr O’Brien said shortlisted parties would have the opportunity to discuss potential development arrangements concerning part of the Bullsbrook land.

Industrial & General Managing Director Matt Lyford noted that demand for the Muchea Industrial Park had already been evidenced by strong prior lot sales and occupier commitments.

“Future occupier demand will be bolstered by the fact that both estates are situated on the Tonkin Highway, providing connectivity to Perth and the wider Pilbara region and immediate access to the proposed RAV-10 networks,” Mr Lyford said.

The parks are offered for sale in one line or separately through an International Expressions of Interest closing Wednesday 18th June at 5.00pm AEST.