13 Modal Crescent is located within the core industrial estate of Canning Vale, approximately 16 kilometres south east of the Perth CBD. The estate was originally underpinned by the development of the Swan Brewery, but has since attracted significant development by local, national and international companies. The estate has become a destination for distribution centres
NEWS AND RESEARCH
The site of 1.5215 hectares is improved with an office and warehouse building, constructed in 1990 and refurbished in 2013. The property has a total GLA of 8,595 square metres; office and amenities of 829 square metres, a warehouse of 5,651 square metres, a production area of 644 square metres and canopies of 1,471 square metres. It is of modern and market relevant presentation.
Gordon Jeanes, a valuer and director with Property Valuation & Advisory (WA), has retired, effective 31 December 2017.
Gordon has worked in the property industry for more than 30 years as a valuer and a property consultant. During that time he gained experience across a variety of market sectors, specialising in many markets.
The property is situated near the corner of Clayton and Lloyd Streets in Midland, approximately 16 kilometres
east of Perth with exposure to around 23,000 vehicles per day. The surrounding area is undergoing significant
infrastructure development including the St John of God hospital and Curtin University campus plus numerous
housing projects. The area is a major large format retail precinct, incorporating approximamtely 40,000 square
metres of large format retail development within 400 metres, including Harvey Norman, Good Guys, Freedom
Furniture & JB Hi-Fi.
The subject property is located in an established large format retail precinct known as “The Quadrangle” in the Edgewater/Joondalup area some 25 kilometres north of Perth and approximately 500 metres south of Hodges Drive. This area is the 4th largest large format retail precinct in Australia.
The building is a 4 storey modern A-grade office building which was extensively refurbished in 2001, with further refurbishments in 2011. The ground floor consists of a foyer, cafe, gym and end-of-trip facilities as well as office accommodation. The three upper floors consist of office accommodation. There is also an adjoining two level warehouse of approximately 1,563 square metres. The property has a total net lettable area of 11,042 square metres.
As you know, new superannuation law changes came into effect in July 2017. If you or your clients elected to apply for Capital Gains Tax relief to reset the cost base on assets, now is the time to have those land and building assets valued.
Please read our article on how Property Valuation & Advisory can assist you.
It’s that time of year again!
As a property owner, you would have recently received your annual rating and taxing notice for 2017/2018. It is worth reviewing the determined value of your property (either Gross Rental Value (GRV) or Unimproved Value (UV)) to ensure you’re not overpaying relative to other property owners in the same area. Please read our article for further details.
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