Rare opportunity to acquire a modern and highly functional logistics asset in one of the strongest investment markets in Sydney

104 Vanessa Street, Kingsgrove, New South Wales 2208

Industrial For Sale

Expressions of Interest. EOI Date 29 Mar 2019
Land Area: 11,590.00 m2.    Floor Area: 7,055.50 m2.    

Car Spaces: 95   

Description

The Sydney Centric Portfolio

Colliers International in conjunction with JLL, have the pleasure in offering the opportunity to acquire 104 Vanessa Street, Kingsgrove as part of the Sydney Centric Portfolio.

The property is underpinned by its high underlying land value, exceptional lease covenant in Shriro Australia, WALE of 5.3 years, strong 3.50% annual rent review structure and core inner South Western Sydney location.

Building improvements include full height precast concrete frame, multi-level office/showroom accommodation which has been recently refurbished and presenting to the highest of standards, excellent warehouse clearance of up to 11 metres, access to the warehouse via numerous on-grade roller shutter doors and substantial hard stand area and parking to the rear of the property.

Located in the core inner South West logistics precinct of Kingsgrove, the property benefits from its proximity to the M5 Motorway.

- Net passing income: $1,225,778 p.a.
- Market income: $1,353,555 p.a.
- Building area: 7,056m2
- Site area: 11,590m2
- WALE: 5.3 years (as at 1 March 2019)

Key investment highlights include:

• Rare opportunity to acquire a modern and highly functional logistics asset in one of the strongest investment markets in Sydney
• Excellent access to the M5 Motorway, the Sydney CBD and Port Botany
• Property is located less than 300 metres from the Kingsgrove Train Station?
• Secure lease covenant to internationally recognised tenant Shriro Australia who has occupied the property for over 10 years
• Long WALE of 5.3 years providing security of income for years to come
• Kingsgrove is a land constrained market earmarked for significant rental and capital growth in the future
• Excellent warehouse clearance of up to 11 metres
• Strong rental growth opportunities in the future due to the displacement of tenants from South Sydney
• Value-add opportunity in the future through potential rezoning of the site to a higher and better use
• High underlying land value underpins the asset

The property will be sold via an International Expressions of Interest Campaign closing 4:00pm AEST Friday the 29th of March 2019.

For further information or to arrange an inspection, please contact the Colliers International or JLL exclusive selling agents.

'TSCP'

Features

  • Excellent access to the M5 Motorway
  • Secure lease covenant
  • Long WALE of 5.3 years

Specifications

Clear Height 9.5 - 10.8 m
Yard Yes
Council Georges River Council
Zoning IN2 - Light Industrial
Car Parking Details 3884.9

Map

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