Transport and Logistics Leading Perth’s Industrial Lands Revolution
A significant up-take in industrial lands by the transport and logistics and warehouse distribution sectors is setting Perth on course to becoming a new global industrial hub.
Research from real estate service provider Savills, show that over the last five years, there has been a 30% increase in industrial space being taken up by transport and logistics, while take up by wholesale tenants has increased by 75%.
The substantial increases have translated into rise of industrial property transactions with $743 million of business done in the last 12 months, up from $454 million in the previous year.
“These impressive figures demonstrate a very telling trend that Perth is embarking on an industrials lands revolution and is undergoing a significant transition from a global resource hub to a global industrial hub with transport and logistics at its heart,” Katy Dean, Manager (Research and Consultancy), Savills Australia said.
“This sector is likely to continue to expand in the long term with specialized hubs developing around key transport nodes such as Forrestfield, Bullsbrook and Latitude 32. It is hoped that this new activity can motivate foreign investors to look at the industrial market in Perth.”
“To ensure that the industrial sector can continue to grow and attract investor appetite, the Government must continue to invest in and prioritize key infrastructure projects such as NorthLink WA and the Perth Freight Link.”
“Infrastructure like this is vital in supporting emerging industrial precincts while creating efficient logistics channels to transport goods efficiently. Industrial precincts represent huge potential to create jobs, boost investment and keep WA growing.”
Perth’s industrial lands revolution will the topic of a key property breakfast being held later this month (24th November). The breakfast will be an opportunity to hear from Katy who will be presenting the latest figures from Savills Industrial research brief.
She will be joined on the panel by David Lewis, Manager (General Industrial), Landcorp, Gary Louis, General Manager (Property), Canci Group and Sarah Coxon, Legal Manager, Coxon Group.