Both of our landmark August settlements never went to public campaign. A private investor secured 8 Richardson Street, West Perth, and ASX-listed Finbar Group acquired a 4,093sqm South Perth landholding, direct approaches matched to the right buyer before either site was ever advertised.
The Richardson Street result has already reset the benchmark for West Perth office. We’re fielding calls from surrounding owners asking about revaluing their buildings, and clients are actively seeking appraisals off the back of it.
That confidence reflects the broader story across Perth commercial. Industrial vacancy has tightened to just 1.0%, the lowest of any capital city, and capital is rotating fast into well-located assets of every type.
We saw that same momentum play out across our other results this month. Jack and I settled the Finbar deal in South Perth and closed out Roberts Road in Subiaco, Jake Wallman and Simon Brady kept the regional and metro sales pipeline moving across Guildford and Albany, and Denise Chong drove momentum on the leasing side, closing out 162 Cambridge Street, West Leederville.
- $16.5m off-market sale, Bowman Street/Labouchere Road, South Perth, to Finbar Group
- $2.35m sale, 193 Roberts Road, Subiaco (+ GST)
- 108 Terrace Road, Guildford ($4.3m) and 13 Stranmore Boulevard, Albany ($3.32m)
- 162 Cambridge Street, West Leederville leased to ASX listed medical group Monash IVF
- More than $48m in commercial property settled across August
For a deeper dive into the latest market trends and insights, read our latest commercial update
Commerical Update: Off-Market Depth Drives August’s Landmark Sales
