Colliers, on behalf of our valued client, are pleased to announce the sale of 110 Erindale Road, Balcatta, Perth, WA for $8.1 million to Quadrant Investments.

Colliers exclusive selling agents, Director of Investment Services WA, James Baker and Manager Investment Services, Shane Isaacs, negotiated the successful outcome, utilising Collier’s national expertise delivering maximum value for the client.

Following a highly competitive on-market campaign, the property sold to a local investor for $8.1 million, reflecting yield of 8.24%.

The campaign attracted strong interest from investors across the country achieving an outstanding result for the sale of an office asset in the tightly held Perth metropolitan market.

Shane Isaacs said, “The campaign received strong interest, with in excess of 40 enquiries from local, interstate and offshore investors and property syndicators”.

“At the end of the campaign we received multiple offers, with significant competitive tension driving an outstanding result for the sellers.”

James Baker said “The sellers who are private investors, developed the three level 3,856sqm office building over 30 years ago and this was the first time the property has been marketed for sale.

“The purchasers, Quadrant Investments, were attracted to the prominent corner location with a large 6,756sqm land holding (approx.).”

“This was a rare opportunity for buyers to acquire a high-profile office asset in the heart of this popular northern suburbs location which was evident in the interest and result that we achieved for the property.” Mr Baker said.