Perth gross industrial take-up breaches 10-year average

Gross take-up reached 278,900sqm over the past 12 months.

According to a JLL report, industrial occupier demand in the Perth industrial and logistics market decreased over Q3 2025, with 45,500 sqm of gross take-up recorded across five major occupier moves (≥3,000 sqm). Quarterly tenant activity was below the two-year quarterly average of 67,600 sqm.

“Gross take-up totalled 278,900 sqm over the past 12 months, above the 10-year average of 212,600 sqm. Demand was led by the transport, postal & warehousing (36.4%), wholesale trade (13.6%) and professional, scientific & technical services (12.0%) sectors,” the report said.

Here’s more from JLL:

No major completions (≥3,000 sqm) were recorded over Q3 2025. However, there are currently 12 projects under construction totalling 167,000 sqm, with the latest project expected to complete by Q4 2027.

Ten projects totalling 117,700 sqm are in the plans approved stage, and four projects totalling 26,200 sqm are in the plans submitted stage. The majority (81.0%) of these projects have not been pre-committed.

No movement in prime rents and yields over Q3 2025

Average prime existing net rents were stable across all precincts over Q3 2025. The North precinct recorded the strongest annual growth (4.0%), followed by the South (3.6%) and East (3.5%) precincts.

Prime midpoint yields were stable at 6.25% across all precincts over the quarter. On an annual basis, yields tightened 25 basis points (bps).

Outlook: Robust occupier demand to support rental growth and new supply

Speculative supply remains prominent in the Perth market despite still-elevated construction, material and labour costs. This new supply is expected to be supported by robust occupier demand.

Moderate and stable rental growth is expected over the short term in the Perth market, with prime yields expected to remain stable over the rest of 2025.