Leading independent commercial real estate agency Sterling Property has completed the $5.6 million sale of a prime freestanding industrial investment at 192 Daly Street, Belmont.
Sold as a going concern at a yield just under 6%, the securely leased asset outperformed quoting expectations of 6.25% – 6.5% and underscored ongoing investor demand for quality industrial opportunities.
Positioned on a 6,475sqm site in the core of the Belmont industrial precinct, the property comprises 2,983sqm of improvements including office, warehouse, and a large canopy. Its design features full drive-around access and professional street presence, offering versatility for a range of occupiers.
Sterling Property Senior Partner Colm McHugh, who brokered the transaction, said the sale highlighted the continued strength of the industrial investment market.
“The strong level of enquiry we received was driven by the property’s strategic location, quality improvements, and secure income profile,” Mr McHugh said.
“Leased to a national tenant on a new three-year term with fixed annual rental increases, the investment offered both income certainty and positive rental reversion potential.”
Mr McHugh added that the sale reinforced Belmont’s appeal as one of Perth’s most tightly held and well-connected industrial precincts.
“Belmont continues to attract owner-occupiers and investors due to its proximity to the Perth CBD, airport, and major freight routes. This transaction reflects that demand, particularly for high-quality leased assets with value-add potential,” he said.
Key features of the asset include a 475sqm office, 1,933sqm warehouse, and 575sqm canopy. The current net income is $335,000 per annum plus GST and outgoings, with rental levels considered below current market rates.
For more information on available industrial investment opportunities or to discuss your acquisition strategy, contact Colm McHugh on 0420 312 645.
