Former home of Hills Transport trades for the first time in 12 years, amidst strong demand.
12 Birmingham Avenue Villawood, a well-located freestanding industrial asset on 1.5 ha, has sold for $7.5 million, within 15 days of coming on the market. Successfully marketed by Phillip Bradac and Tony Durante of Colliers International, and Fallon Brooks and Brad Lord of Ray White Commercial NSW, the asset received unprecedented demand from the market.
“The interest in this asset was extremely high,” said Mr Durante. “Given the good location and exceptional facilities that offered a range of future opportunities, we received a great deal of enquiry, particularly from owner-occupiers. Ultimately it was an owner-occupier who purchased this asset, with a view to relocating their business from Western Sydney to this more central location.”
According to Mr Bradac, who introduced the purchaser, owner-occupiers have been very active in the area in recent times, viewing Villawood as an exceptional location. The purchaser, who is a private business operator from Western Sydney, has been in the market looking for the right property for a number of years and intends to occupy the premises in future once the existing lease expires.
“Only a few weeks prior to this campaign, we sold 3-5 Birmingham Avenue via EOI, which also attracted strong demand,” said Mr Bradac. “We had several buyers who were unsuccessful for that asset, who were also potential buyers for 12 Birmingham. Ultimately the strong interest and attractive offers we brought to the table for 12 Birmingham resulted in the vendors accepting an offer they were pleased with prior to the EOI campaign closing.”
12 Birmingham Avenue was the home of a successful grass roots transport company, Hills Transport, which at its peak turned over approximately $70m a year. The business was sold by Ken and Julie Gray some seven years ago and they retained the property which has been leased to a couple of occupiers since. One such occupier was a production company who undertook initial works for building vehicles for the recently released movie, Mad Max: Fury Road. In more recent years, the asset has been occupied by True Blu Beverages who remain in occupation
The asset incorporates a warehouse of 5,900 sqm, office space of 450 sqm, extensive parking and hardstand area. It is also close to bus, rail and shopping centres, with good access to major motorways and highways.
The vendor’s property advisor was Endeavour Property Advisory.