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Case Study Industrial: Sydney North

83 Pacific Highway Waitara1536x1040

83 Pacific Highway, Waitara

Challenge

Our Colliers Sydney North experts worked closely with our private client who owned 83 Pacific Highway, Waitara. With a long-standing tenant vacating the property, our client sought our advice given our strong track record in the Upper North Shore to consider a divestment strategy.

The property is situated on approximately 762sqm of land, encompassing 10 spaces and a showroom/bulky goods building of 350sqm. Visible to circa 27,000 vehicles daily, the high profile site is a highly exposed showroom site in Sydney’s upper North Shore area.

Strategy

Our experts Toby Hardiman and John Carney reviewed the options to attract a new tenant versus vacant possession and put together a comprehensive strategy designed to deliver a fantastic result for our client.

After reviewing likely occupiers for the premises, our team believed a vacant possession would attract a stronger outcome from the market, given the high profile position of the property on the Pacific Highway at Waitara. Based on this, we were appointed to sell the asset utilizing our database and market intelligence to ensure a competitive process for our client.

Result

With a short off-market campaign involving on a handful of inspections, the team were able to achieve approximately $4,330 per square metre of land for the property, equating to a sale price of $3,300,000. Our client was pleased with the outcome and we would like to thank our client for entrusting us with the sale and we wish them well for their future endeavours.

At Colliers, we maximise the potential of property to accelerate the success of our clients and our people. To learn more about this transaction, contact Toby Hardiman or John Carney.

Testimonial

“We recently engaged Toby to negotiate the sale of our commercial property in Waitara. Toby has done an excellent job and has achieved a great result in the sale of the property. Toby has demonstrated very good negotiating and communication skills during the sale process. His prompt replies, advice and actions have made what can be a very stressful situation relatively painless and I would have no hesitation in recommending him to anyone”

Neil Townsend
Owner of 83 Pacific Highway, Waitara


Related Experts

John Carney

Associate Director | Industrial

Sydney North

John Carney has worked in the North Shore industrial/business park market for nine years. During this period, he has developed sound relationships with many of the owners, occupiers and developers in this market. John has a reputation for being hardworking, honest and reliable in the North Shore market.

View expert