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Lendlease buys WA logistics facility

Wednesday, 27 Mar 2019 ( #916 ) - Perth, WA, Australia
Local News Story
The Gnangara site
The Lendlease-managed Australian Prime Property Fund Industrial has acquired a 1.856 ha industrial site in Perth for a new $20 million facility.

The fund closed the purchase of the site at 45 Boom Street, Gnangara, about 30 kilometres north of the Perth CBD, for $4.1 million last month.

APPF Industrial will fund the construction of a 12,190 sqm industrial building with 700 sqm of offices, which will be leased to records management and data back-up and recovery business Iron Mountain Australia Group on completion.

"This is APPF Industrial’s second investment in Western Australia and provides further diversification for our portfolio," says Jonathan Harrison, fund manager, APPF Industrial.

"The location north of Perth is ideally suited to logistics with excellent transport links to the Perth CBD and outer suburbs. Overall economic conditions for the region are positive and this is a city that we believe will see solid growth."
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