This article is from the Australian Property Journal archive
A MELBOURNE-based investor has paid $10.85 million for a state-of-the-art Amazon Delivery Station in West Gosford on NSW’s Central Coast.
Strategically positioned near the Central Coast Highway, Pacific Highway and the M1 Pacific Motorway which now connects to Sydney via NorthConnex, the 6,008 sqm freehold landholding at 9 Marstan Close was built in 2023 and comprises a 2023-built 2,550 sqm high clearance office and warehouse facility.
The property is leased for seven years at a net annual income of $514,565 plus GST. It traded on a yield of 4.74%.
Burgess Rawson’s Yosh Mendis and Rhys Parker facilitated the sale.
Mendis said the property saw strong interest and competition from investors across Australia, and that the sale highlights the ongoing strength of the industrial investment sector, particularly for premium logistics assets secured by blue-chip tenants.
“Investors continue to seek strategically located premium investment properties underpinned by strong lease covenants which demonstrate stable income streams, attractive rental growth and significant tax depreciation benefits.
“Industrial assets, especially those tied to e-commerce and last-mile logistics, remain highly sought-after by investors given their continually growing necessity to a booming market segment.”
