Pictured above: 380-384 Scarborough Beach Road, Osborne Park
An Osborne Park Car Yard has sold in an off-market transaction representing the first significant sale of such property in Osborne Park in recent years, selling for $14.5 million.
The property located at 380-384 Scarborough Beach Road, Osborne Park sits in Perth's premium automotive precinct, holding a total area of 12,182 sqm, and is leased to an ASX-listed tenant.
The deal was negotiated by Colliers’ Director Industrial, WA, Sam Hammond, who completed the deal off-market to a private investment Company.
Mr Hammond said, “The sale represents a significant milestone, with Osborne Park being a such tight market. There have been few transactions of scale in the area over recent years, making this deal a turning point in the market. The property hasn’t changed hands in over 30 years making the sale extremely noteworthy to investors.”
“The benefits of an ASX-listed tenant and the site’s location in Australia’s best performing bulky goods prominent display precinct, make for a great investment decision for property owners,” said Mr Hammond.
