UWA city property on the market

THE University of WA is further reducing its property portfolio, this week putting 6 Kings Park Road (right) up for sale by private treaty.

UWA property administration manager Wayne Brown said the university’s decision to sell the West Perth property was based on favourable market conditions and was consistent with its policy to shift it investment focus.

“We think now is a good time to put a property like this on the market, it is in a great location and we believe the market is after this type of building,” he said.

Mr Brown told Business News last month UWA would be looking to downsize its property portfolio and reinvest in the share market, which offered more flexibility.

As such, the university was unlikely to use proceeds of the sale to acquire more properties.

The four-level office building comprises basement car parking and three levels of office accommodation, two of which are leased by winemaker Evans & Tate. The third floor is vacant.