Sections of Perth's commercial property market have proved to be a happy hunting ground amidst the COVID-19 crisis, with LJ Hooker Commercial Perth reporting an uptake in sales and leasing transactions.

Director Brian Neo and his team have presided over nearly ten deals in the city and its surrounds throughout the past month as the pandemic has unfolded across the country.

Mr Neo told WILLIAMS MEDIA the agency had worked to ensure any disruption to its operation was minimal.

"We've been busy," he said.

"One of the advantages we have is that we are a small team of about 15 employees. 

105 Forrest Street, Cottesloe (leased). Source: LJ Hooker Commercial Perth

"We continued to rotate staff and work remotely, which has allowed us to transact whenever people want."

Recent sales highlights for LJ Hooker Commercial Perth include Unit 8, 160 Hampden Road, Nedlands for $480,000 (Going Concern) and Level 2, 72 Kings Park Road in the West Perth mining precinct for $1.5 million.

The agency also negotiated the lease of four tenancies totalling 290 square metres at 105 Forrest Street, Cottesloe at a price of $425 per square metre, as well as a 5-year lease for 394 Stirling Highway, Claremont, a property that had been previously vacant for the past two years.

LJ Hooker Commercial Perth recent deals - At a glance: 

• Sale of Unit 8, 160 Hampden Road, Nedlands - $480,000 (Going Concern)
• Sale of Level 2, 72 Kings Park Road, West Perth - $1,500,000 + GST
• Sale of Unit 4, 202 Hampden Road, Nedlands - $305,000 (No GST)
• Sale of 26 Leura Street, Nedlands - $1,600,000 + GST
• Lease of 500 Stirling Highway, Peppermint Grove – 207sqm* and 5-year term
• Lease of 394 Stirling Highway, Claremont – 427sqm* and 3-year term
• Lease of Suite 3, 7 Lyall Street, South Perth – 190sqm* and 4-year term
• Lease of 105 Forrest Street, Cottesloe – 4 tenancies totalling 290sqm*   

Suite 3, 7 Lyall Street, South Perth (leased). Source: LJ Hooker Commercial Perth

Mr Neo said all the prices had been "very strong" considering the current climate.

"There's been speculation about property prices dropping for obvious reasons but these prices don't reflect that," he said. 

"These are all properties outside the fringe of Perth, so to achieve rates like $425 per square metre is positive. 

"Each property we have transacted in the past month has offered something different." 

 Unit 8, 160 Hampden Road, Nedlands (sold for $480,000). Source: LJ Hooker Commercial Perth

The office's momentum shows no signs of slowing down with a lease deal in Subiaco, and another transaction in Claremont expected to be settled in the coming week.

Mr Neo said he was cautiously optimistic about the path ahead for the Perth commercial market.

"I don't think the economic downturn has filtered through (to the market) as yet, although job losses have been well publicised," he said.

"That being said, I think Perth is well placed to be one of the first cities in the western world to open back up for business."

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