Amcor Completes $57 Million Sale Leaseback of HQ in Australia

Colliers International Web Site - June 19, 2007

Leading Western Australian development company Primewest Management has paid $57 million for Amcor’s Bibra Lake headquarters in one of the biggest industrial property deals ever completed in WA.

The 38.14 hectare site is ideally positioned within the high profile Bibra Lake/Cockburn industrial precinct and has extensive frontage to Phoenix Road. Packaging giant Amcor will lease back its existing factory and offices on a long term basis, while Primewest will develop a high quality industrial estate and possibly an office park on the surplus land.

Primewest is already in discussions with a number of national tenants for design and construct projects on the land and expects work to commence on the site before year end.

Amcor will lease back its 14,000 square metre factory and 730 square metre office complex, but the balance of the land will be redevelopment into industrial lots and possibly an office park.

Primewest Management is one of the most successful wholesale property syndicators and developers in Western Australia and over the last 10 years the company and its directors have built a national portfolio valued in excess of $1 billion. It also owns a number of bulky goods properties and shopping centres throughout WA and NSW. Sphere: Related Content