This article is from the Australian Property Journal archive
The Nudie Juices production facility in Sydney’s Banksmeadow has sold under the hammer for $8.59 million, becoming the fourth property in a small stretch of the prized southern industrial suburb to change hands in little more than a year.
CI Australia’s Elan Zwick and Chris Veitch marketed the 77 Corish Circle site, opposite Westfield Eastgardens shopping centre and at the intersection of Wentworth Avenue, under instructions from liquidator Sheahan Lock Partners. Jesse Davidson of Auctionworks auctioned the property.
The property has a 3,398 sqm, two-level office and warehouse building constructed in 2004, and is fully leased to international food and beverage producer Monde Nisson (Australia) Pty Limited.
It is part of a hotspot of activity in the suburb that is located close to Sydney Airport and the Port Botany Rail Line, at a time when connectivity is an increasingly coveted element of logistics and industrial facilities.
Earlier this year, Bob Ell’s Leda Holdings paid $36 million for the adjacent 1.85-hectare site at 8-10 Moore Street. which Leda will use as a development play.
That followed developer and investor Logos acquiring a 4.4-hectare warehouse site next door at 2-6 Moore Street for $72.4 million.
Late last year, Goodman Group acquired a 2.29-hectare cleared industrial site, a few metres away from the Nudie facility on Corish Circle, for $25.2 million, which it intends to lease long-term despite its strata development potential. It was part of The Home Investment Consortium’s $70 million sale of former Masters sites.
Most recently, the suburb has just seen Charter Hall just buy the Australian Federal Police training facility on McPherson Street, which has a 3,000 sqm building on a 23,000 sqm site and is also leased to the Department of Agriculture and Water Resources.
Australian Property Journal
