This article is from the Australian Property Journal archive
ONE of Australia’s first-completed multi-level industrial warehouses has been put up for lease, just a few weeks after being acquired by Cabot Properties for $137.6 million.
The newly-completed 19,819 sqm 42-52 Raymond Avenue building in Matraville, in Sydney’s inner south-east, is a two-storey, ramp-up facility consisting of four units ranging in from 4,640 to 5,109 sqm. One is currently leased to an established local roofing material supplier.
There is up to 15,178 sqm of available gross lettable area. A central breezeway and double width roller shutter doors allow for all weather and efficient loading areas. There is the opportunity for exclusive use of breezeway area when occupying two units on level one, providing up to an additional 1,850 sqm of area.
Named Portal, the development was delivered by LaSalle Investment Management, together with Hale Capital as development partner and Vaughan Constructions as the appointed builder.
It is within 500 metres to Port Botany, five kilometres to Sydney Airport and 13 kilometres south of Sydney’s CBD.
Colliers’ Michael Crombie and Trent Gallagher, and the CBRE team of Nathan Egan and Nick Zenonos, have the listing.
“It is important for Australians to embrace multi-level development in areas so close to the Port and Airport,” Crombie said.
“This is the second ever multi-level development to be built in Australia and the first with such immediate access to Port Botany. This brand new state of the art development will be the future home of many A-grade industrial and logistics tenants,” Gallagher added.
The multi-level industrial development sub-market is still in its infancy in Australia. Goodman Group and Lendlease are among other early adopters.
