UP TO DATE WITH LO­CAL REAL ES­TATE.

Pilbara News - - Lifestyle - He­len Shield

A 7ha Kar­ratha Gap Ridge In­dus­trial Es­tate ware­house and lo­gis­tics com­plex leased to oil and gas gi­ant Chevron is for sale.

The 6037sqm gross let­table area in­cludes a 2511sqm ware­house with a 12m truss, a 228sqm mez­za­nine and 488sqm of high-qual­ity of­fice, split into eight of­fices, two open-plan ar­eas and a board­room, as well as 40 car bays.

The ware­house has a 278sqm stor­age area for dan­ger­ous goods and a 235sqm in­su­lated, tem­per­a­ture-con­trolled store­room. Out­side, it has 25,000sqm of con­crete hard­stand and 29,470sqm of com­pacted road-base hard­stand.

The com­plex, se­cured by alarms and CCTV sur­veil­lance, has triple-B road train ac­cess and a back-up diesel gen­er­a­tor.

Col­liers In­ter­na­tional agents Raj Singh and Wayne Chor­ley have been ap­pointed to sell the prop­erty, at Lot 105 Ex­plo­ration Drive, which is owned by the Canci Group and was de­vel­oped with Main­te­nance and Con­struc­tion Ser­vices Aus­tralia Pty Ltd.

The prop­erty, which has a rental in­come of $4.4 mil­lion a year, has two leases with re­newal op­tions, and a weighted av­er­age lease ex­piry of about eight years.

The 10-year lease for the ware­house runs un­til 2024 and the lease on the lay­down yard ex­pires in 2018.

“We think there will be strong in­ter­est in the sale, ” Mr Singh said, flag­ging de­vel­op­ment po­ten­tial from sur­plus land at the Chevron site.

Mr Chor­ley said oil and gas, iron ore and sea salt min­ing were Kar­ratha’s dom­i­nant re­sources but its eco­nomic base was di­ver­si­fy­ing.

“State Gov­ern­ment fund­ing and pri­vate in­vest­ment (is) pro­mot­ing new agri­cul­ture and ir­ri­ga­tion ven­tures, tourism and res­i­den­tial,” he said.

LandCorp’s 260ha Gap Ridge In­dus­trial Es­tate is one of WA’s largest in­dus­trial es­tates out­side Perth.

Ex­pres­sions of in­ter­est close on Au­gust 12.

Pic­ture: Col­liers In­ter­na­tional

The sale will be one of Kar­ratha's big­gest real es­tate deals.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.