This article is from the Australian Property Journal archive
AROUND $28 million is expected for a 6,000 sqm industrial complex on Sydney’s Lower North Shore that is primed for a next life as a last-mile estate.
The property at 31-33 Sirius Road versatile building improvements across five units, sitting in located that offers access to a large residential catchment and key arterial motorways, including Lane Cove Road and the M1 and M2 Motorways.
It has a strategic weighted average lease expiry by income of 3.89 years.
Colliers’ Trent Gallagher, Gavin Bishop and Sean Thomson have the listing.
“Underpinned by a diverse and high-quality tenant mix, this outstanding opportunity offers investors not only a stable cash flow but also considerable potential for short-term value enhancement via multiple value-add and strategic re-leasing initiatives,” Gallagher said.
“Additionally, the Lane Cove West industrial market is well-positioned to capitalise on increased demand as industrial and commercial occupiers are displaced from the Macquarie Park market in light of the recently announced Macquarie Park Innovation Precinct rezoning.
According to Colliers, year-to-date, industrial and logistics investment volumes have been strong, with $4.4 billion recorded across 104 transactions. Moving into the final quarter of 2024, heightened investment activity is expected to close out the year, particularly for assets located within land-constrained and established industrial markets, as investment managers with clear strategies look to deploy capital.
“Core plus capital remains the most active investment sector within the industrial and logistics market and we expect this trend to continue, especially within land contained markets within Sydney,” Bishop said.
“Given the limited supply of industrial property within Lane Cove and its proximity to major infrastructure and the CBD we expect this asset will attract strong interest from the market,” he added.
Expressions of interest close Tuesday, 15th October.
