A significant industrial development site with a three-year lease back to a multinational company has come to market in Sydney’s north.
The land parcel of 18,840sqm with a short triple net leaseback of three years to ACCIONA comes with flexible E4 General Industrial zoning providing the potential for future development or reuse.
The property at 26-32 Beaumont Road in Mount Kuring-Gai is listed exclusively with the Colliers team of Trent Gallagher, Sam Thomlinson and John Carney, with price expectations of approximately $22 million.
“Vacancy rates for industrial property within Sydney are still at an all-time low and there is significant rental demand which outweighs supply, meaning we expect further significant rental growth into the near future,” Mr. Gallagher said.
“Throughout 2023, the Sydney industrial property market has maintained its consistency in being the most robust asset class within the region. With interest rates expected to plateau I believe there will be more activity both from investors and owner-occupiers looking to acquire industrial property,” Mr. Thomlinson added.
“We are seeing increased demand from occupiers which is increasing rents and reducing vacancy rates which is leading to increased industrial development appetite across the market,” Mr. Carney said.
ACCIONA is a global leader in sustainable infrastructure solutions. In Australia, ACCIONA has evolved from a rich history of local companies who have delivered complex, sustainable, and iconic projects across this country for over 100 years. With a business that spans the entire value chain, from design and construction through to operation and maintenance, they combine deep Australian knowledge with global experience.
Mount Kuring-Gai sits in a strategic northern Sydney position having fast access to the greater Sydney market as well as the growing Central Coast region.
26-32 Beaumont Road in Mount Kuring-Gai is for sale via an Expressions of Interest campaign ending on Thursday, February 29.
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