THE PROPERTY DEVELOPMENT REVIEW
large LG facilities in Perth, where we collaborated with local and eastern state developers. What advice would you give property developers today? With a limited supply of stock, land values remain elevated and fringe/secondary areas have risen appreciably for the first time in many years. Amidst this land supply shortage, developers and occupiers are fighting to acquire well-located rural/rural residential lots that offer scope for re-zoning to ‘industrial’ in the future. Despite the likelihood of further interest rate rises impacting debt serviceability, we expect the WA industrial market to remain resilient going forward, underpinned by strong rental demand, Perth’s favourable yield differential and investors positive perception of industrial property as an asset class.
focus on service, knowledge and valuation methodology. WA owned and operated, and based in the industrial suburbs of Perth, we pride ourselves in our local knowledge and long-term relationships with our clients. To support our sales and leasing service, we also have a large property management portfolio with experienced Asset Managers who have been with the company for many years. Our Asset Managers have a thorough understanding of all facets of the market and expertise across different sectors allowing us to undertake the management of retail, commercial and CBD assets of our long-term clients, along with their industrial investments. What are some of the most significant or rewarding projects that you’ve been involved in and why? Undertaking the sale of a significant land sub-division in Canning Vale was very rewarding. We were associated with the sub-division early and had the opportunity to give our views on the configuration and other aspects of the sub-division. We have had also had the opportunity to do many designs and construct projects, the most notable being the
current low interest rates. Sellers are hesitant in listing their properties for sale as they know it will be difficult to secure new locations or investment opportunities. Who have been key investors over the last 18 months and have you seen a shift from previous years? We have found in WA that the biggest market has been properties in the $1m - $2m price range. Investments in this range have been well sort after and sales are showing a return of 5.50%-6%. These rates have not been previously achieved in the Perth industrial market. There have also been plenty of sales towards the higher end by syndicators. The opportunity for individuals to enter the market as part of a syndicate has proven to be highly attractive and we have noticed that these syndicates are filling within days. What is your secret to achieving the exceptional results that you have? Established in 1989, MLV was the first “boutique agency” in the Perth market. Since its inception
MLV’s goal has been to purely service the industrial market in Western Australia, with a strong
September / October – 107
Powered by FlippingBook