George Weston Foods pays $11.5m for Hope Valley industrial site
George Weston Foods has spent $11.5 million ex-GST on an industrial development site at Hope Valley, about 30 kilometres south of Perth.
The 4.74 hectare block, 61 Armstrong Road, within the Latitude 32 Industrial Estate, was offloaded by Hero Properties, which was represented by JLL’s Nick Goodridge, Brett Mathanda, Ross Palframan and Andrew Fife.
Until recently, the land was earmarked for the OVEST Industrial Park, which was seeking occupiers for buildings between 3000-22,000 square metres.
Instead, George Weston Foods will construct a facility to meet its statewide operational needs.
One of its former bases, at Spearwood – 12km closer to the city – has in recent years been making way for a low-density housing estate (story continues below).
“Underlying demand for industrial land from owner occupiers remains strong in Western Australia,” Mr Goodridge said of the market.
“We expect this trend to continue in Q1-21, as the sector continues the momentum we experienced in the second half of 2020”.
Hope Valley is about 10km north east of Rockingham where last month Elanor Investors Group spent $22.9m on a healthcare investment.
