Source : BUSINESS NEWS
Investment activity in Hazelmere has been on the rise with Cedar Woods’ $15 million property acquisition following the $42.7 million divestment of a BGC warehouse.
ASX-listed Perth-founded developer Cedar Woods Properties has recently added to its extensive assets close by in its residential suburb of Bushmead with the purchase of 4 hectares of land for $15.55 million.
The site at 255 Midland Road Hazelmere was secured by Dunland Property Pty Ltd from Silvia Maria and Cruce Bucolo, according to RP Data.
The ultimate holding company of Dunland Property, Australian Securities and Investment Commission documents show, is Cedar Woods Properties Limited.
Meanwhile, Singaporean-listed real estate investment trust, AIMS APAC REIT, made its debut in Western Australia with the purchase of a BGC Australia warehouse in Hazelmere for $42.7 million.
The acquisition of 398 Bushmead Road and 286 Stirling Crescent totalled 9.2 hectares and comprised warehouses, workshops, hardstand areas and ancillary office accommodation, as well as two adjoining vacant properties.
Majority of AIMS’ 28 property assets are located in Singapore, with just three found in Australia.
AIMS, a part of Sydney Stock Exchange owner AIMS Financial Group, claims its assets are valued at S$2.25 billion in total.
Over on 167 Bushmead Road, Perth businessman Daniel Jukic recently sold 4.43 hectare of land in Hazelmere for $8.5 million to property group Birchmead.
Australian investment company CFC Group’s Birchmead secured the industrial site at 167 Bushmead Road from Mr Jukic, the founder of former engineering firm MIE Enterprises and Pro9 Australia.
RP Data shows 167 Bushmead Rd Pty Ltd purchased the land from Sammy & Co (Wa) Pty Ltd.
Birchmead conducted the sale through the entity 167 Bushmead Rd, with ownership confirmed in ASIC documents.
Sammy & Co (Wa) is owned by Novac International, which is, in turn, controlled by Floreat’s Mr Jukic and Danijela Jukic, ASIC records show.
Mr Jukic was a 40under40 winner in 2018 after founding Pro9 Australia.
Strong demand
Effective Property Solutions brokered the deal off-market, with senior manager of commercial and industrial projects Harry Mettam saying the acquisition reflected the strong demand for land in the Hazelmere industrial precinct.
“This Hazelmere industrial area continues to demonstrate its strength as a key Perth growth corridor, with demand for quality, well-located assets remaining strong and difficult to come by,” Mr Mettam said.
“Situated between Midland and the Perth Airport and with excellent proximity to key road networks, this precinct is a superior location, especially for transport and logistics facilities.”
EPS founder and managing director Erwin Edlinger said the purchase was a significant achievement for the Burswood-based team.
“Brokering this substantial transaction for Birchmead underscores the connected expertise EPS offers, which has been strengthened by Harry’s recent recruitment from his role as a CBD office leasing agent / acquisition manager,” said Mr Edlinger.
“This opportunity, which was sourced off-market reinforces the importance of clear strategy, strong market relationships, and the ability to work collaboratively with both seller and purchaser to achieve a win-win outcome.”
Further south of the suburb, property records show Paul Brenton Keding sold a home and vacant land spanning 1.3 hectares at Lot 165 Arum Lily Place for $3.75 million.
KLE Commercial Pty Ltd, according to RP Data, is the new owner.
China’s Yuxuan Guo and Sri Lanka’s Ambigapathy Thirukumaranuxuan control the entity, an ASIC filing shows.
Yet to settle
Other significant transactions in Hazelmere are yet to settle, including the pending sale of at least three Stirling Crescent properties spanning 8 hectares for $20.13 million, property records show.
RP Data names Crestar Holdings Pty Ltd as the current owner of the sites.
ASIC documents show Tariq Mahmood Butt, reportedly behind one of Pakistan’s largest meat exporters, is the sole shareholder.
Next door to those sites and continuing along the Helena River and Stirling Crescent, RP Data shows two other neighbouring properties owned by Roger Andrew Wilcox, Lynley Janet Wilcox, Ha Thu Thi Hoang and Tai Dinh Nguyen are set to sell for $7.9 million altogether.
Other developments
Ben Lisle-led property group Hesperia recently announced it is in the process of expanding its industrial precinct in Hazelmere by 20 hectares of land.
The move would boost the total value of its Hazelmere portfolio to $550 million.
The suburb was making headlines recently when GreenSquareDC put forward a proposal to build a $1.1 billion three-storey and 120-megawatt data centre at lot 14 and 15 Stirling Crescent.
Business News revealed in May the plan was scrapped, with the developer naming “highly conservative” WA planning laws as the biggest barrier to the development.
