A two-level office, showroom and warehouse at 28–30 Northwood Street, West Leederville, has sold for $3.42 million through Colliers, above the vendor's expectations. The campaign drew more than 80 enquiries and five competitive offers.
It is a small deal with a big message. Freehold commercial property on Perth's city fringe is in short supply and buyers are competing hard for it.
The deal at a glance
- Asset: 28–30 Northwood Street, West Leederville WA (about 3 km from the CBD)
- Price: $3.42 million
- Tenure: freehold
- Area: 972 sqm
- Improvements: two-level office, showroom and warehouse with extensive rear storage
- Campaign: more than 80 enquiries and five offers
- Agents: Colliers (Shane Isaacs, Cory Dell'Olio)
Who was interested
The campaign drew owner-occupiers, investors and developers. Each saw something different: a ready-made business premises, a secure city-fringe investment or a site to reposition later under the local planning controls.
Why West Leederville
West Leederville is an established commercial precinct close to the CBD, with good transport links and plenty of amenity. Colliers' Cory Dell'Olio described it as a tightly held market. Shane Isaacs said the enquiry levels show a deep buyer pool for quality city-fringe assets.
Flexible buildings win
Office, showroom and warehouse space under one roof suits many businesses, from trade suppliers to creative studios. That flexibility widens the buyer pool, which is what produced five offers in a competitive campaign.
Perth's market backdrop
Perth's commercial and industrial markets have been among the strongest in the country, supported by population growth and tight supply. Smaller freehold assets under $5 million are especially popular with private buyers and owner-occupiers.
Small assets, big demand
Sub-$5 million commercial properties are one of the busiest parts of the market. They suit self-managed super funds, private investors and businesses that want to own their premises. Bank finance is easier to arrange at this level and there are many more potential buyers than for large institutional assets.
City-fringe locations are especially popular because they combine access to the CBD with lower prices and more flexible buildings. Few new freehold buildings are being added in these established areas, so each one that comes to market tends to attract strong competition, as this campaign showed.
What it means for the market
- Small city-fringe freeholds remain highly liquid
- Mixed-use buildings attract the widest range of buyers
- Competitive campaigns are still pushing prices above expectations
Lessons for owners
- Run a proper campaign: broad marketing turned interest into five offers
- Highlight flexibility: show how the building can work for different users
- Present the future too: concept plans help developers see the longer-term potential
What to watch next
Watch for more city-fringe freeholds in West Leederville, Osborne Park and West Perth coming to market as owners test this demand.