Perth industrial pipeline expands with 14 projects underway

These projects will yield over 180,000sqm of stock.

Fourteen industrial and logistics projects totalling 181,300 sqm are currently under construction across Perth, with the latest scheduled for completion by Q3 2027, according to JLL. In addition, six approved projects amounting to 99,700 sqm and two submitted projects totalling 12,200 sqm are progressing through planning stages, although JLL notes that 77.1% of this future pipeline remains uncommitted.

The development activity comes as occupier demand accelerates sharply. JLL reported that 139,100 sqm of gross take-up was recorded in Q4 2025 across 17 major occupier moves of 3,000 sqm or more — the strongest quarterly result since Q2 2015. Over the past 12 months, gross take-up reached 363,300 sqm, well above the 10-year average of 215,100 sqm.

Demand has been led primarily by the transport, postal and warehousing sector, which accounted for 40.3% of annual take-up, followed by professional, scientific and technical services at 9.4% and retail trade at 8.5%, JLL said. The firm expects transport, logistics and manufacturing users to remain key drivers of space requirements in the near term.

Five major developments, totalling 59,100 sqm, were completed during Q4, adding to available stock. Despite this new supply, rental and yield settings remain firm. JLL reported that average prime existing net rents were stable across all precincts in Q4, with the North precinct posting the strongest annual growth at 4.0%, followed by the South at 3.6% and the East at 3.5%.

Prime midpoint yields held steady at 6.25% over the quarter and tightened 25 basis points year-on-year, reflecting sustained investor confidence in the sector.

Looking ahead, JLL expects robust occupier demand and constrained supply to place further downward pressure on vacancy and support continued rental growth. Prime yields are forecast to remain stable in the short term, underpinned by strong leasing fundamentals and steady investment appetite.