Developers and investors were dominant buyers in the first tranche of blocks sold off the plan at the new Northlink Industrial Park in Wangara.
In off-market deals, they bought 55 lots in stages one and two, expected to settle early next year.
Raine & Horne commercial selling agent Anthony Vulinovich said land prices at the estate, at $300 to $400/sqm, were considerably cheaper than the $750/sqm at Balcatta and $900 to $1100/sqm at Osborne Park, and were a major attraction.
“Northlink Industrial Park also offers some relief for the sustained shortage in small to medium-sized lots in Perth’s northern corridor,” he said
The industrial park is on the intersections Ocean Reef and Gnangara roads and Mirrabooka Avenue. It is being developed by WA developer Linc Property, which bought the 60ha from two private sellers.
When finished, it will hold up to 150 lots of 1300sqm to 6000sqm.
Raine & Horne is now marketing the next 35 blocks in the park as well as five left over from the first two stages.
Mr Vulinovich said with most lots sold at LandCorp’s Enterprise Park Project in Wangara and Linc Property’s Landsdale North industrial estate, Northlink would ensure a supply of industrial land for the inner-northern corridor.
In its long-term strategy document, The Economic and Employment Land Strategy, the State Government’s predicts a shortage of well-located metropolitan industrial land within 20km of the CBD.
“With established areas such as Balcatta, Osborne Park, Welshpool and Kewdale nearing capacity, developers and owner-occupiers are looking for well-located metropolitan land with reasonable pricing and Northlink is well positioned to meet this demand,” Mr Vulinovich said.
Northlink has a general industrial zoning and Georgiou has started earthworks for the internal road network.
With public open space, quality landscaping and a high level of amenity for business, Linc Property plans for the estate to be a premium industrial location.
The West Australian – July 17, 2013