Leda Holdings to offload refurbished Sutherland Shire asset

A refurbished commercial asset in the Sutherland Shire offering significant upside has been listed for sale by Leda Holdings.

The 5,495sqm property at 32 Cawarra Road in Caringbah comes with a leased area of 3,026sqm. The corner landholding is ideal for a value-add investor looking for a strategic position within one of Southern Sydney’s strongest investment markets.

The property is listed with Trent Gallagher, Edward McFarland, Gavin Bishop and Sean Thomson of Colliers, with price expectations of more than $26 million.

“This refurbished high-quality and appealing commercial asset is strategically located to provide crucial amenity within one of Sydney’s most tightly-held infill industrial and commercial precincts,” Mr Gallagher said.

“The subject property location is in the centre of Caringbah’s destination precinct, surrounding many well-known domestic and corporate occupiers including Shimano Australia, Reece Plumbing, Australia Post, Woolworths, Hertz Car & Truck Rental, and many more quality occupiers,” Mr McFarland added.

The fully leased asset offers a diversified tenancy profile providing cash flow security with a net passing income of approximately $1,252,965 per annum and a protected WALE of 6.4 years.

The property also comes with generous development controls allowing for up to 8,243m²* of GFA and 16 metres in total height showcasing the potential for significant value-add (STCA).

“Leda Holdings retained and fully refurbished the original Johnson & Johnson HQ into a high-quality commercial asset which is now home to a range of quality tenants in the central business district of Caringbah,” Mr Bishop said.

“This is an ideal value-add investor opportunity to position yourself within a strategic location offering excellent access to major road infrastructure including Taren Point Road, Captain Cook Drive, Rocky Point Road, and the Princes Highway,” Mr Thomson added.

32 Cawarra Road, Caringbah, is offered for sale via Expressions of Interest closing 3:00pm (AEDT) Wednesday, 30th November 2022.