Quarter Times Perth Industrial Q1/2015
Savills Research Western Australia Quarter Times Perth Industrial Q1/2015 Savills Research | Quarter Times Quarter 1 2015 Key Market Indicators Perth Core - Belmont, Canning Vale, Kewdale, Welshpool, Jandakot Airport excluding Osborne Park Prime Secondary Low High Low High 90 115 65 95 Yield - Market (%) 7.00 7.75 7.50 9.25 IRR (%) 9.00 10.00 9.25 10.50 20 35 15 25 1,100 1,600 700 1,200 Rental Net Face ($/sq m) Outgoings - Total ($/sq m) Capital Values ($/sq m) Land Values 3,000 - 5,000 sq m ($/sq m) 400-550 Land Values 10,000 - 50,000 sq m ($/sq m) 350-450 Land Values 10 ha and above ($/sq m) 250-350 Source: Savills Research Perth North - Balcatta, Joondalup, Malaga, Wangara, Landsdale, Bullsbrook Prime Secondary Low High Low High 85 105 65 90 Yield - Market (%) 7.25 8.50 7.50 9.25 IRR (%) 9.00 10.00 9.50 10.50 Outgoings - Total ($/sq m) 16 30 15 25 Capital Values ($/sq m) 950 1,500 700 1,200 Rental Net Face ($/sq m) Land Values 3,000 - 5,000 sq m ($/sq m) 300-525 Land Values 10,000 - 50,000 sq m ($/sq m) 100-450 Land Values 10 ha and above ($/sq m) 50-350 Source: Savills Research Perth South - Bibra Lake, Henderson, Jandakot, Kwinana, Myaree, Naval Base, O’Connor, Rockingham, Latitude32 Prime Secondary Low High Low High 75 100 60 85 Yield - Market (%) 7.50 9.00 8.00 10.00 IRR (%) 9.25 10.50 10.00 11.25 Outgoings - Total ($/sq m) 16 30 15 25 Capital Values ($/sq m) 800 1,350 600 1,000 Rental Net Face ($/sq m) Land Values 3,000 - 5,000 sq m ($/sq m) 175-525 Land Values 10,000 - 50,000 sq m ($/sq m) 150-350 Land Values 10 ha and above ($/sq m) 100-225 Source: Savills Research savills.com.au/research 2 Savills Research | Quarter Times Quarter 1 2015 Perth East - Armadale, Forrestdale, Forrestfield, Maddington, Hazelmere, Bayswater, Bassendean, South Guildford Prime Secondary Low High Low High 75 105 60 90 Yield - Market (%) 7.50 9.00 8.00 9.75 IRR (%) 9.50 11.00 10.00 11.25 Outgoings - Total ($/sq m) 16 30 15 25 Capital Values ($/sq m) 850 1,400 600 1,100 Rental Net Face ($/sq m) Land Values 3,000 - 5,000 sq m ($/sq m) 180-500 Land Values 10,000 - 50,000 sq m ($/sq m) 140-325 Land Values 10 ha and above ($/sq m) 85-275 Source: Savills Research Major Leasing Activity Select Perth Industrial Leases Date Property GLA (sq m) Rent ($/sq m) Sep-14 17-21 Fargo Way, Welshpool 5,350 119 Jolly and Sons Oct-14 6/290 Brand Hwy, Muchea 1,960 92 Lampson Australia Oct-14 5 Abbott Rd, Perth Airport 5,633 125 Recall Feb-15 Excellence Dve, Wangara 3,324 na Undisclosed Mar-15 159 Bushland Ridge, Bibra Lake 4,700 122 Undisclosed Source: Savills Research Tenant na = not currently available Select Perth Industrial Pre-Commitment Leases Date Property GLA (sq m) Rent ($/sq m) Dec-14 4 Spartan Rd, Jandakot Airport 26,200 na Reece Australia Jan-15 Pilatus Rd, Jandakot Airport 11,200 na Undisclosed Feb-15 Vale Rd, Hazelmere 20,000 na Mainfreight Feb-15 Vale Rd, Hazelmere na na CEVA Logistics Source: Savills Research Tenant na = not currently available savills.com.au/research 3 Savills Research | Quarter Times Quarter 1 2015 Major Sales Activity Select Perth Industrial Sales Date Property Price ($m) GLA (sq m) $/sq m Yield (%) Sep-14 2 Jones St, O’Connor 7.80 2,841 2,746 8.20 Oct-14 42-44 Lancaster Rd, Wangara 1.60 464 3,438 VP Oct-14 7 Niche Pde, Wangara 1.31 720 1,815 VP Nov-14 14 Juna Dr, Balaga 1.59 926 1,717 7.13 Nov-14 4 Uppill Pl, Wangara 1.38 830 1,657 5.82 Dec-14 239 Planet St, Welshpool 29.88 17,530 1,704 8.00 Jan-15 74 McCoy St, Myaree 11.50 3,608 3,187 7.25 Feb-15 1000 Abernethy Rd, Forrestfield 25.00 7,500 3,333 7.20 Feb-15 44-50 Great Northern Hwy, South Guildford 6.50 3,005 2,163 8.20 Price ($m) Area (sq m) $/sq m Source: Savills Research Select Perth Industrial Land Sales Date Property Sep-14 111 Warren Rd, Bullsbrook 8.00 212,600 38 Oct-14 37 Lakes Rd, Hazelmere 19.00 67,100 283 Jan-15 13 Merino Entrance, Cockburn 3.47 3,664 946 Source: Savills Research This information is general information only and is subject to change without notice. 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