Six premium high-tech industrial units sitting on 1,457m² of industrial land will be offered for sale via Expressions of Interest closing 3pm (AEST) Thursday 4th May 2023.
Colliers’ Michael Crombie, Trent Gallagher and Nick Mallett have been appointed to sell 36-38 Raymond Avenue, Matraville on behalf of a private owner. Agents expect the property to attract circa $10 million.
This boutique premium industrial estate which houses six premium units will be offered for sale in one line, ranging in size from 171sqm to 208sqm with a total combined building area of 1,107sqm. The estate is fully leased with current net income of $411,024 per annum + GST equating to $371 per sqm, with some lease expiries on the horizon and strong rental growth. The proposed current market income is $498,150 per annum + GST being some $450 per sqm.
The property is situated within Matraville’ s prime industrial precinct and moments to Port Botany Container Terminal and would suit savvy investors or occupiers who can take advantage of the current record low vacancy rates. The zoning is IN1 – General Industrial land zoning under SEPP (Transport and Infrastructure) 2021 – Three Ports and there is ample parking for each unit in the secure and gated boutique estate.
The South Sydney market has undergone extensive re-zoning over the last 10 years that has had a positive effect on the remaining industrial precincts due to the scarcity of remaining IN1- General Industrial zoned areas.
“This site presents a dynamic opportunity for investors or occupiers to acquire a high-end industrial strata estate with passing income situated within one of the country’s most sought after and tightly held industrial precincts that’s moments from Port Botany” Mr Mallett said.
“The industrial market within South Sydney has never been this strong due to record rental growth and rates being achieved as high as $500 per metre gross in some locations. The rental reversion that is taking place within the industrial market is allowing for property values to maintain their value even though interest rates are continually rising” Added Mr Gallagher.
“Finding a superior quality blue chip industrial investment around $10 million is difficult to find, especially across South Sydney. The flexibility this investment provides will be of great interest to the investor market,” Mr Crombie said.
Related Articles
