NEWS

Maddington industrial property sells for $5.45 million

New buyer found for Malcolm Road steel fabrication workshop.

Colliers International has sold one of two Maddington industrial properties that are jointly listed with Ray White, for $5.45 million.

The sale, one of Maddington’s biggest transactions for 2017, was negotiated by Jeremy Parasiliti who said the former steel fabrication workshop at 10 Malcolm Road was purchased by a private buyer who was looking for a big site with good access to the Roe, Tonkin and Albany highways.

“This versatile 1.2ha property offered room for redevelopment in Maddington’s tightly-held industrial area and was met with strong interest,” Mr Parasiliti said.

“Maddington is renowned for its smaller lots so a property of this size is a rare industrial listing.”

The property has a 4790sqm warehouse, five gantry cranes, a 3500sqm yard and several offices.

Mr Parasiliti said recent planning changes converting more of the area between Maddington and Welshpool to industrial-zoned land had improved Maddington’s long-term prospects as an important industrial centre.

“With a better connection to the industrial area east of Perth, we expect to see a steady increase in the number of leasing and sale inquiries for Maddington,” he said.

The marketing campaign for the Malcolm Road property included an adjoining property facing Alloa Road which has yet to sell.

The 4387sqm vacant land at 7 Alloa Road has an asking price of $1.379 million plus GST.

10 Malcolm Road Maddington

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