Perth

Former medical centre sells for $3m

The site of a former medical centre in Welshpool in Perth’s south east has sold for $3 million.

04 Mar 2020

The site of a former medical centre in Welshpool in Perth’s south east has sold for $3 million.

An owner occupier has purchased 9-11 Babel Road, a 5,210sqm corner block that also has a frontage on Moriarty Road.

Gizmo Investments owned the asset, which is home to a now-vacant 1,054sqm building and 60 car park spaces.

It is 400m from the Welshpool Road and Leach Highway intersection, 8km from Perth Airport and 10km from the Perth CBD.

CBRE’s Tom Iredell managed the sale, which reflects a property rate of $576/sqm.

“There was significant interest from owner occupiers and developers, which led to a competitive process and a strong outcome for the vendor,” Mr Iredell said.

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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.