A landmark industrial development site in one of Australia’s premier distribution locations has come on the market, with the purchaser able to benefit from the leasing income whilst obtaining masterplan approval to develop the site. The property is a 21.86 hectare site located at the interchange of the M4 & M7 motorways at Eastern Creek in Western Sydney. The site is zoned IN1 General Industrial under Western Sydney Employment Area. The site is currently leased to the Commonwealth of Australia until 31/12/15 with no option to renew, earning $3,244,800 p.a. net with 4% p.a. increases. The next rent review will be on 1/1/2014. Marketing agent Colliers International Parramatta director Peter Dale said: “This site will suit major corporations and logistic companies seeking a distribution hub capable of servicing the entire eastern seaboard of Australia (in excess of 17 million people). “Given the diminishing supply of premium-grade development sites of this scale and access to key infrastructure, we expect this outstanding property to appeal to organisations focused on the future. “Eastern Creek provides affordable land and buildings that deliver a property solution for companies to increase efficiencies and stay ahead of the pack,” Mr Dale said. The property is being marketed for sale by Colliers International Parramatta via Expressions of Interest closing 5:00pm, 11 December 2013. Click here for contact information.
Source:
http://www.tandlnews.com.au/2013/11/12/article/landmark-sydney-industrial-site-comes-on-the-market/
