Prime industrial rents in Perth showed a slight decline last quarter, according to a report released today.
CBRE’s Asia Pacific Industrial and Logistics MarketView shows Perth registered a quarter-on-quarter drop of 0.7 per cent in prime industrial rent despite a year-on-year rise of 2.9 per cent.
The relatively small decline is attributed to demand from resource-linked occupiers beginning to outweigh the decline from manufacturing tenants.
CBRE industrial and logistics services regional director Joshua Charles said supply remained constrained in Perth, particularly in the Eastern sub-region for properties over 3,000sqm.
“Given the tight supply pipeline, schemes targeting larger occupier requirements such as Jandakot City and Stockland Industrial Estate are reaping the rewards and land values could increase over the coming months, especially in light of a reported easing in financing restrictions,” Mr Charles said.
Melbourne recorded the strongest growth in industrial rents of any market in the Pacific Region with a 1.4 per cent rise.
