One of the most prominent sites in the Sutherland Shire is being offered for the first time in close to 50 years.
The combined 6,586sqm asset across four titles and three high-quality buildings offers an industrial warehouse, showroom, office and major development prospects, providing significant scale in an extremely tightly held market.
Owned by a private vendor for the past 48 years, the site at 175-177 Taren Point Road, Caringbah and 94-98 Parraweena Road, Miranda, can be sold separately or in one line, with the diverse collection at various price points allowing many buyer groups to participate in the process.
The Colliers team of Trent Gallagher and Edward McFarland have the exclusive listing.
“The subject properties will be well received in the market as they have the ability to operate as warehousing, however due to the unbeatable location they will appeal to a series of trade related industrial tenants that want to capitalise on the exposure, allowing for greater rental returns,” Mr Gallagher said.
“The Sutherland Shire in itself is one of the most tightly held industrial markets in the country with rents increasing within this precinct on a monthly basis currently. Industrial rents are sitting at north of $300 per metre net in this precinct currently, with showroom rents as high as $500 per metre net. Land values in this precinct now site between $3,000 – $3,500 per metre,” Mr McFarland added.
With an assessed net market rental income of approximately $1.845 million per annum, the asset is largely vacant and is significantly under-rented, providing significant uplift for any incoming purchaser.
Situated in a commanding location with two street frontages and a combined 181 meters of exposure, the site occupies one of the most prominent street positions in the Sutherland Shire.
175-177 Taren Point Road, Caringbah and 94-98 Parraweena Road, Miranda are for sale via an expressions of interest campaign, closing on Tuesday 13th June, 2023 at 3:00pm (AEST).