Savills Research
Western Australia
Quarter Times
Perth Industrial
Q3/2016
Savills Research | Quarter Times
Quarter 3 2016
Key Market Indicators
Perth Core - Belmont, Canning Vale, Kewdale, Welshpool, Jandakot Airport, (excludes Osborne Park)
Prime
Secondary
Low
High
Low
High
75
105
55
85
Yield - Market (%)
6.50
7.75
7.25
9.00
IRR (%)
8.00
9.25
8.75
9.50
Outgoings - Total ($/sq m)
20
40
15
30
Capital Values ($/sq m)
975
1,600
600
1,175
Rental Net Face ($/sq m)
Land Values 3,000 - 5,000 sq m ($/sq m)
375-525
Land Values 10,000 - 50,000 sq m ($/sq m)
275-425
Land Values 10 ha and above ($/sq m)
200-325
Source: Savills Research
Perth North - Balcatta, Joondalup, Malaga, Wangara, Landsdale
Prime
Secondary
Low
High
Low
High
70
100
55
80
Yield - Market (%)
7.25
8.50
7.50
9.25
IRR (%)
8.25
9.25
8.75
9.75
Outgoings - Total ($/sq m)
20
40
15
30
Capital Values ($/sq m)
825
1,375
600
1,075
Rental Net Face ($/sq m)
Land Values 3,000 - 5,000 sq m ($/sq m)
300-475
Land Values 10,000 - 50,000 sq m ($/sq m)
100-425
Land Values 10 ha and above ($/sq m)
50-325
Source: Savills Research
Perth South - Bibra Lake, Henderson, Jandakot, Kwinana, Myaree, Naval Base, O’Connor, Rockingham, Latitude32
Prime
Secondary
Low
High
Low
High
60
95
45
80
Yield - Market (%)
7.25
8.75
7.75
10.00
IRR (%)
8.50
9.75
9.25
10.50
Outgoings - Total ($/sq m)
15
35
15
30
Capital Values ($/sq m)
675
1,300
450
1,025
Rental Net Face ($/sq m)
Land Values 3,000 - 5,000 sq m ($/sq m)
175-450
Land Values 10,000 - 50,000 sq m ($/sq m)
125-300
Land Values 10 ha and above ($/sq m)
90-200
Source: Savills Research
savills.com.au/research
2
Savills Research | Quarter Times
Quarter 3 2016
Perth East - Armadale, Forrestdale, Forrestfield, Maddington, Hazelmere, Bayswater, Bassendean, South Guildford
Prime
Secondary
Low
High
Low
High
70
105
55
90
Yield - Market (%)
6.75
8.75
7.75
9.50
IRR (%)
8.00
10.25
9.25
10.50
Outgoings - Total ($/sq m)
15
40
15
30
Capital Values ($/sq m)
800
1,550
575
1,175
Rental Net Face ($/sq m)
Land Values 3,000 - 5,000 sq m ($/sq m)
180-475
Land Values 10,000 - 50,000 sq m ($/sq m)
140-300
Land Values 10 ha and above ($/sq m)
85-225
Source: Savills Research
Major Leasing Activity
Select Perth Industrial Leases
Date
Property
GLA
(sq m)
Rent
($/sq m)
Jun-16
857B Abernethy Rd, Forrestfield
7,000
105
AEC
Jun-16
256 Berkshire Rd, Forrestfield
15,000
73
M3 Logistics
Jun-16
Units 1&2, 22 Hyne Rd, South Guildford
8,400
na
Chemist Warehouse
Jul-16
2/33 Competition Way, Wangara
801
95
Right2Drive
Jul-16
2 Bannister Rd, Canning Vale
14,400
85
Ikea
Aug-16
56b Fawcett Cres, Perth Airport
2,955
155
Fuchs Lubricants
Aug-16
176 Beringarra Ave, Malaga
3,001
na
Frontline Fire & Rescue
Sep-16
5 Glyde St, Malaga
2,039
120
Global Electrotech
Sep-16
Lot 7 Hugh Edwards Dr, Perth Airport
6,063
na
CHS
Sep-16
Lot 9 Tarlton Cres, Perth Airport
4,133
na
Monde Nissin
Source: Savills Research
na = not currently available or not able to be disclosed
Tenant
~approximate range
Select Perth Industrial Pre-Commitment Leases
Date
Property
GLA
(sq m)
Rent
($/sq m)
Apr-16
Berkshire Rd, Forrestfield**
7,000
na
API
Aug-16
Jandakot Airport
7,370
na
ACCO
Sep-16
Clifford St, Maddington
3,900
na
Makita
Sep-16
Jandakot Airport
2,700
na
Grays Online
Source: Savills Research
na = not able to be disclosed
Tenant
**not previously reported
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3
Savills Research | Quarter Times
Quarter 3 2016
Major Sales Activity
Select Perth Industrial Investment Sales
Date
Property
Price ($m)
GLA (sq m)
$/sq m
Yield (%)
Apr-16
15 Ashby Cl, Forrestfield
18.41
11,416
1,613
7.50
May-16
172 Kewdale Rd, Kewdale
8.50
4,768
1,783
8.50*
May-16
54-56 Banksia Rd, Welshpool
7.50
6,560
1,143
8.23
Jun-16
119 Kelvin Rd, Maddington ^
5.10
2,917
1,743
8.53
Aug-16
#
36.00
4,997
7,204
6.03*
310 Selby St, Osborne Park
Source: Savills Research
^ sale & leaseback
*passing
#
portfolio sale, combined yield quoted
na = not currently available or not able to be disclosed
Select Perth Industrial Vacant Possession Sales
Date
Property
Price ($m)
GLA (sq m)
$/sq m
Jul-16
1 Welsh Pl, Osborne Park
1.30
1,351
961
Jul-16
16-18 Coulson Way, Canning Vale
2.86
1,913
1,495
Jul-16
34-36 Canvale Rd, Canning Vale
2.40
2,100
1,143
Jul-16
123-129 McDowell St, Welshpool
9.76
5,283
1,847
Aug-16
42 Tennant St, Balcatta
1.38
850
1,618
Aug-16
144 Welshpool Rd, Welshpool
2.00
1,198
1,669
Aug-16
5 Chifley Brace, Jandakot
3.30
1,320
2,500
Aug-16
2 Madison St, Canning Vale
2.40
2,033
1,181
Source: Savills Research
Select Perth Industrial Land Sales
Date
Property
Sep-16
Production Rd, Canning Vale
Source: Savills Research
Price ($m)
Area (sq m)
$/sq m
~13.0
~40,000
~325
~approximate range
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consent of Savills. ©Savills 2016
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Quarter 3 2016
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