Freehold leased investment in Belmont comes to market

15 July 2022

A freehold leased industrial investment has come to market on Cleaver Terrace, Belmont – one of Perth’s premium industrial markets in the Eastern corridor.

JLL’s Alec Di Lollo, Executive, Logistics and Industrial and Andrew Fife, Director, Logistics and Industrial have been appointed to sell 70 Cleaver Terrace, Belmont via Private Treaty.

The 1,518sqm office/warehouse offers a standard level of industrial accommodation and benefits from an elevated, high profile, prominent position. The asset is expected to sell for more than $2.95 million.

Currently, 70 Cleaver Terrace is fully leased to KI Training and Assessing, who uses the premises to deliver nationally accredited training and high-risk work licenses to the mining, civil, and industrial sectors. KI Training and Assessing has occupied to 70 Cleaver Terrace for the past 4 years and has a passing rent of approximately $157,885 per annum.

The significant corner landholding of 3,841sqm has triple street frontage to Cleaver Terrace, Robinson Avenue and Wynyard Street. The favorable “Mixed Business” zoning allows for the development of a variety mixed business uses such as offices, showrooms, food and beverage and appropriate industrial activities (STCA).

Mr Di Lollo said, “Belmont is well known as one of Perth’s most tightly held commercial precincts, underpinned by its locational benefits and proximity to key infrastructure. Currently the market is seeing a lack of options for investors who are seeking to purchase blue-chip assets such as Cleaver Terrace.”

Mr Fife said “The appeal of this property is further enhanced by the longstanding tenant that has occupied the site for approximately the past 4 years whilst also being a land rich opportunity with over 60% of the investment value in the land.”

70 Cleaver Terrace is being offered For Sale via private treaty by the exclusive selling agents – JLL.