This article is from the Australian Property Journal archive
A RARE industrial development site with less than 10% site coverage in North Sydney has sold for $19.75 million.
The land parcel of 18,840 sqm at 26-32 Beaumont Road in Mount Kuring-Gai comes with flexible E4 general industrial zoning.
Colliers’ Trent Gallagher, Sam Thomlinson and John Carney sold the property in conjunction with Ben Byford and Joshua Charles of One Commercial.
“The buyer recognised the scarcity of this unique asset, with industrial land with site coverage below 10% in the North Sydney market so few and far between. It was a competitive process, and the new owner will benefit from the strong underlying land value growth,” Carney said.
The main structure is comprised of a 792 sqm warehouse and 557 sqm office and amenities in addition to a further 89 sqm mezzanine.
Two further structures, a shed and undercover storage area, total 365 sqm. The warehouse components have clearance of 7.8 metres rising to nine metres and are of portal steel frame construction with concrete slab flooring and pressed metal roofing. There are five on-grade roller doors.
Thomlinson said the North Sydney industrial market is one of the region’s most land constrained.
“This transaction is a testament to the ever-growing demand for land rich industrial sites in tightly held precincts such as the north. It is positive to see owner-occupiers are still active in trying market conditions.”
Mount Kuring-Gai is home to a number of national occupiers and sits in a strategic northern Sydney position having fast access to the greater Sydney market as well as the growing Central Coast region, the agents said.
