Address: 1/13 Carrington Rd, Castle Hill
Lease Date: April 2020
Property Features include:
- 1,905sqm Total Building Area
- Clear span warehouse space plus mezzanine level office area
- Access via two (2) roller shutter doors
- Extensive yard area
- High visibility location with exposure to Carrington Rd and close proximity to the North-West Metro
The Challenge: To secure a lessee who could capitalise on the exposure and changing fundamentals of the precinct, during a period where there had been disruption to the primary target market, LFR and Automotive Industries in particular. This was further complicated due to the zoning status on the property, which had been deferred for an extended period.
The Process: We assessed the target market and established a list of potential users who would benefit from occupying the premises. We identified a company in particular, who was working with James Douglas of our Occupiers Services team. Paul McGlynn & James Douglas presented an overview on the market to this multi-national automotive dealer and identified the lack of specific opportunities to locate the business to this tightly held precinct. Due to our specialist market knowledge within the Castle Hill Trading zone and North-West market generally, we were able to demonstrate the coming transformation of Carrington Rd through both increased construction and density plus substantial exposure due to the connectivity to the North-West Metro rail link– Showground Station precinct. We quickly got engagement with this organisation and worked through the commercial terms.
The Result: An excellent outcome was secured for the lessor, with a 10 year lease term at the asking rental.This mutually beneficial outcome also provided security of tenure for the lessee, who will undertake significant upgrade and refurbishment works on the property, to ensure the property is well received by their customers and provide excellent branding and signage opportunities.
At Colliers, we work collaboratively with our broad range of product lines and service offerings, to accelerate the success of our clients. For further detail, please contact Paul McGlynn and James Douglas.