Industrial sale sets new record for Trade Coast precinct

The $6.1 million sale of 14 individual lots in Hemmant has set a new record for industrial land in the Trade Coast precinct.

Located at 34-36 Porter Street, 37 Henricks Street, 39 Henricks Street and 47 Henricks Street, the lots have a total land area of 6,020 sqm and were sold at a rate of $1,013/sqm to a local business.

The lots are leased to nine tenants who are a mix of civil contractors and industrial users.

CBRE’s Braiden Farrer managed the sale on behalf of a private owner, All Resources Pty Ltd, who has owned the land for several years. 

Mr Farrer said, “This is a significant sale for property owners in the Trade Coast precinct. With vacancy rates at 2.5%, owner occupiers are being driven into the market to secure large parcels of land based on the lack of available industrial buildings in the market.”