2018 heralds best year for growth in Forrestdale Business Park
Investment in the City of Armadale's Forrestdale Business Park (FBP) significantly increased in 2018, with land sales almost doubling from 2017.
Fifty land sales totalling $70 million were reported for 2018, the highest since sales commenced in the area in 2007.
City of Armadale Mayor Henry Zelones OAM, JP said that in a market which has been considered slow, the investment in the FBP has shown that Forrestdale is beating the odds with investment on the rise.
“The business park has attracted investment from major corporations and has now secured nearly 140 businesses, ranging from cafes to motor vehicle repair stores and freight management.
“In a recent article in The Australian, Bernard Salt mentioned Forrestdale as one of the top-10 growth areas for small business in Australia. This is a positive sign that commercial investors have confidence in the area.”
While the number of small businesses is growing across the nation, construction is underpinning the growth of small business in Australia. In Armadale, the largest number of registered businesses by industry is the construction industry with over 1,000 construction businesses registered in the region.
“It is the fourth largest employment industry in Armadale, employing 1,878 people. Construction based businesses currently occupy over 12% of the businesses in FBP. With the continued expansion of the park this number is expected to rise,” added Mayor Zelones.
Development applications also increased in 2018 with 32 applications, valued at $25.4 million, indicating developer confidence returning to the FBP market.
“There is already more than $314 million in development investment at Forrestdale Business Park which is proof of increased interest and recognition of the City of Armadale as a growing region for employment.”
A major drawcard for commercial investors to invest in the Forrestdale Business Park is the area’s proximity to major infrastructure including airports, ports and main transport routes, including the Tonkin Highway and Armadale Road.
“Major developments in the area which are set to attract more investment into Forrestdale Business Park also include the Armadale Road upgrade and construction of the North Lake Road/Kwinana Freeway road bridge – a $382 million project which will improve links between major business and commercial hubs across the Southern Enterprise Arc,” added Mayor Zelones.
For more information regarding the Forrestdale Business Park, contact the City's Manager Economic Development & Tourism on (08) 9394 5000.