Media release - 17th February, 2015
Historical Western Australian estate set to rock industrial property investors and developers
It’s been used for training and stabling thoroughbred race horses for more than 50 years and now one of south western Perth’s prime industrial land parcels is up for sale.
Lot 1, Day Road Rockingham is a tightly-held englobo 13.51 hectare site, which has enjoyed a colourful and rich history, according to joint selling agent Anthony Vulinovich, Co-Principal of Raine & Horne Commercial Western Australia.
“The property was purchased by the Pike family in 1962 and has been used ever since for stabling and training racehorses and is home to the heritage listed Day Cottage, which sits hard against the south east corner of the site on a curtilage area of 2,264sqm,” said Mr Vulinovich.
Day Cottage is a stone cottage built in 1885 by William and Susan Day. The couple established the cottage as an inn.
“The time has come for the Pike family to sell and move the horses to greener pastures given the industrial zoning of the site and its location, which makes it a ready platform to be the next stage of Landcorp’s Rockingham Industry Zone lot development schedule within the general industrial Clipper Precinct,” said Mr Vulinovich.
The Rockingham Industry Zone is the focal point of The Western Trade Coast, one of WA’s fastest growing industrial regions, according to Mr Vulinovich.
“Rockingham Industry Zone includes the Australian Marine Complex, Latitude 32 and the Kwinana Industrial Area,” he added.
“Lot 1 therefore is a unique large industrial land parcel that sits on a prime corner with frontage to Day Road and Lodge Road. It will provide an owner-occupier or a developer with site options in relation to its potential for subdivision and ease of access.
“The property will provide a developer with a rare dual opportunity to capitalise on the success of Landcorp’s work in the region or an owner occupier looking to secure a commercial property in a popular location.
“The site is well serviced, although in respect to sewerage provisions, there are some constraints but we encourage potential buyers to engage with the Water Corporation to determine an acceptable outcome depending on the scale, type and timing of development,” said Mr Vulinovich.
Joint selling agent Jeremy Malaxos, principal of General Property Assets said, “The climate is favouring the immediate development of this site given interest rates are at historically low levels.
“The configuration and road exposure of the of the Property allows for multiple development / subdivision options and the “Offers to Purchase” campaign should ensure buyers can purchase the property with development outcome surety.
“We are expecting to see yield compression in all sectors of the property market and Industrial sits at the top of the list. Given its likely classification as a Brownfield opportunity, logistical benefits, size of the lot and options available to various parties, this seems a solid offering to the market and we are expecting strong enquiry.”
The property is being sold by offers to purchase, which will close by 19th March 2015.
To find out more about this commercial property opportunity in south west Perth, contact Anthony Vulinovich, Raine & Horne Commercial WA on (08) 9380 4500.
For further media information contact:
Anthony Vulinovich, Director, Raine & Horne Commercial Western Australia on 0411 516 343