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News release

Perth

Market responds strongly to Burswood 

Occupier-owner secures site for $3.1million in competitive sales campaign


​​PERTH, 7 July 2014 – A superb property overlooking G.O Edwards Park in Burswood has been sold to an owner occupier for $3.1million after a highly competitive sales campaign by JLL.

The 1226sqm site, comprising of a two-storey office building at 123 Burswood Road, Burswood, presents an attractive business base, investment or mixed-use development opportunity in close proximity to the Perth CBD, according to JLL Executive, Sales & Investments WA, Matthew Monaco.

“The property generated strong interest from all sectors of the market including owner-occupiers, developers and investors, with offers received within the first two weeks of marketing,” said Mr Monaco.

According to Mr Monaco, the high level of enquiry is attributed to increasing demand in the Burswood precinct driven by the rejuvenation of the Crown Entertainment Complex and the development of the new Perth sports stadium.

“The sale represented a great opportunity to acquire a property in this location, complete with quality improvements, holding income and exceptional redevelopment potential.

“It is also indicative of a shift in thinking that sees businesses increasingly seeking greater long-term security by purchasing affordable office space near the city and breaking the leasing cycle, particularly in this low interest rate environment,” concluded Mr Monaco.