Sales success for Southern River Business Park

All lots in the Southern River Business Park are now under contract, after the City of Gosnells accepted an offer on the final lot last week.

The 21ha subdivision features mixed business and light industrial lots ranging from 1,211 sqm to 6,456 sqm and is the largest commercial project the City has undertaken.

Mayor Terresa Lynes said demand for the subdivision had exceeded expectations and would deliver significant benefits for the local community.

“This is very exciting news for our community, because not only will the businesses built in the Southern River Business Park create local jobs and contribute to the local economy, but the net profit from this project will be spent providing quality facilities to local residents,” she said.

“This subdivision is the culmination of decades of planning, so it was very pleasing to see how quickly the lots were snapped up. Following the COVID-19 pandemic, mobility data consistently showed the City’s community members prefer to support local business, which presents a strong business case for long-term investment in the region.

“Construction of the business park will commence shortly and we plan to have shovels in the ground in the coming weeks.”

Selling agent Cygnet West Senior Executive Industrial, Angette King said the excellent location of the Southern River Business Park added to its appeal.

“The sustained demand for industrial land has been clearly evident and reflected in strong enquiry throughout the year,” she said.

“Particularly noteworthy was the significant activity observed in the smaller end of the market, indicating a strong preference among smaller businesses for owner-occupier options.

“This accomplishment highlights the industrial property sector's strength and underscores the strategic positioning of the Southern River Business Park in effectively meeting the diverse needs of businesses in the region.”

Cygnet West Director Industrial Greg O’Meara, who worked alongside Ms King to sell the lots, said the prices of lots ranged from $322,000 to $1.82 million.

“This success is a clear reflection of the ongoing strength of our industrial market and, more particularly, the optimism for the future of our market,” he said.

“Cygnet West research clearly identifies that the future of the Western Australian economy is sound, with strong inbound migration projected for the years ahead.”

Southern River Business Park will also feature three large areas of public open space, which will act as a buffer for a large neighbouring wetland.

For more information about the project, visit the City of Gosnells website at www.gosnells.wa.gov.au/srbp or call 9397 3000.