Rare large-scale industrial investment opportunity in South-West Sydney destination precinct

27 July 2022

Land holding of 11,778 square metres with a total building area of 8,620 square metres in one of the leading industrial markets in Sydney, comes to market.

The high clearance warehouse at 168 Carrington Street, Revesby with roller doors throughout and dual entry points for heavy ridged vehicles, is strategically positioned with 75 metre street frontage to Carrington Street and access to major road infrastructure, including Milperra Road and the M5 Motorway.

Boasting a net passing income of $1,260,000 + GST, the prime industrial property comes with a short WALE of three years leased to reliable tenant Thermotec Australia, who have occupied the site for more than 20 years.

The property is exclusively listed with Trent Gallagher, Angus Urquhart of Colliers.

“The property presents a unique opportunity for any purchaser to receive stable income and either reposition the building upon the tenant vacating and capitalise on growth in rent forecasted or develop into multi-level industrial.” Mr Gallagher said.

“The South market has seen land rates increase by more than 10% in six months and prime rents increase by more than 17% in 12 months.

“This shows the continued demand for the South-West industrial precincts as tenants and buyers continue to migrate away from the city in search for value.”

The Revesby and Milperra industrial market benefits from a wide range of occupier types including, retail trade, manufacturing, food processing and logistics, and recently received a significant influx in institutional capital buying in the area.

“The rezoning and withdrawal of industrial space in South Sydney over the past decade has led to a large displacement of tenants, and a considerable share of these have since moved to South West Sydney.” Mr Urquhart said.

“Since 2012, Colliers Research estimates that approximately 120 hectares of industrial land has been rezoned for alternative land uses, and infrastructure projects have also placed supply pressure on the South Sydney market.

“At the same time, South West Sydney has seen a substantial rise in industrial supply over the same period, enabling users to relocate to newer facilities, often at a significantly discounted rate compared to what they were paying in South Sydney.

“Over the past five years, approximately 800,000 sqm of new stock has been added to the South West Sydney market, representing 28% of Sydney’s total supply over the period.”

168 Carrington Street, Revesby is on sale via an Expressions of Interest campaign, which closes 4pm (AEST) on 25th August 2021.