Heine Brothers have acquired the former Berkeley Apparel factory in Sunshine for approx $22 million.
Located approx. 500 metres from Albion train station the property at 501 – 503 Ballarat Rd, Sunshine has excellent exposure and development opportunities.
Situated within the Sunshine Activity Zone, the site allows for a variety of development outcomes including high density residential. The area is destined for strong population growth (forecast to be up +69 per cent by 2041), partly as a result of the Airport Rail Link which forms part of the proposed $50b suburban rail loop.
The 2.2ha site includes 12,513 square metres of improvements in two tenancies. The vendor, Berkeley Apparel offered the site with a leaseback over part of the site. The asset is forecast to provide a total annual rent of $1.445 million.
Dawkins Occhiuto acted for Berkeley Apparel in the transaction.
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