Symbion has transferred ownership of its sole Western Australian distribution centre to Adelaide-based asset manager Harmony Property Investments. The deal, announced this week, removes Symbion’s last logistics foothold in the state. Harmony will assume full title to the facility, which has served regional supply chains for several years.
Sale-and-leaseback arrangement
The transaction is structured as a sale-and-leaseback, with West Melbourne-based Avari Capital retaining tenancy. Avari’s alternative accommodation fund, launched earlier this year, will continue operating the centre under a long-term lease. This arrangement allows Symbion to free capital while preserving the site’s operational role.
For Symbion, the move signals a strategic retreat from WA logistics. The centre, located on the outskirts of Perth, handled inbound freight for retailers and service providers. By exiting the market, the company can redirect resources to higher-growth regions.
Harmony’s expanding WA portfolio
Harmony’s acquisition fits a broader pattern of activity in the state. Recent purchases include a modern shopping centre in a Peet housing estate and a key-worker accommodation complex. These assets diversify Harmony’s holdings beyond traditional office and retail spaces.
While the leaseback secures Avari’s operational continuity, the property’s future use remains open. If Harmony pursues redevelopment, the site’s proximity to major transport corridors would be advantageous. The company has not disclosed any immediate renovation plans.
Other recent moves highlight a busy WA market. Swan Taxis is preparing to leave its long-held Perth headquarters, putting a major development site in play.
Office market activity in Perth and Sydney
eHealth NSW has recommitted to office precincts on both the east and west sides of the country, reinforcing demand for government-linked workspace.
Southern Cross Care (WA) completed the purchase of a high-profile city-fringe office that carries a partial vacancy. The not-for-profit paid $10.45 million for the property, adding a strategic foothold near the central business district.
In the capital, a prominent inner-west office building at 130 Royal Street exchanged hands for $6.75 million, reflecting continued investor interest in well-located government-anchored assets.
John Blackburne, a luxury apartment developer, divested an inner-city office that had served as a headquarters for 33 years, marking the end of a long-term tenancy.
Industrial and logistics transactions across Western Australia
The Royal Australian Air Force of Western Australia confirmed the sale of a 4,093 square-metre development site, opening opportunities for new commercial use.
Banjo Bond’s Cosgrove outlaid $58.2 million to acquire two of four industrial properties recently offered by the Lester Group, expanding its manufacturing footprint.
Troon Group entered the Perth market with a $79.8 million purchase of a 180-hectare industrial development site, its first investment in the region.
Satterley Property Group paid what is believed to be the state’s highest price for a large-format retail asset, indicating the high value placed on strategic retail locations.
Wesfarmers-backed Built Living secured up to $120 million from the National Reconstruction Fund to establish a housing manufacturing facility, targeting the growing demand for prefabricated homes.
Australian Development Capital sold an inner-city office after five years of ownership and a recent renovation, signaling a shift in its asset allocation.
Eureka Group Holdings added a second Western Australian tourist park to its portfolio within a month, reinforcing its focus on leisure-oriented real estate.
Equinox disposed of a Western Australian holiday park it had held for three years, reflecting ongoing consolidation in the holiday-park sector.
Growthpoint Properties Australia listed a major Perth Airport logistics asset for sale after 17 years of operation, highlighting the maturity of airport-related logistics facilities.
Cbus Property purchased half-stakes in two land-rich shopping centres, one in Brisbane and the other in Perth, diversifying its retail exposure.
Birchmead acquired an off-market buffer site that permits industrial use on one portion and residential on the other, expanding its mixed-use holdings.
