This article is from the Australian Property Journal archive
AS stock dwindles, a large-scale industrial property has hit the market in South West Sydney, offering a rare 27,030sqm investment opportunity with expectations topping $50 million.
Located at 92 Gow Street in Padstow, around 22km south west of the Sydney CBD and 13km out from the Sydney Airport, the prime industrial asset includes a 9,344sqm all-purpose hardstand across five tenancies and a functional building area of 7,975sqm.
Trent Gallagher from Colliers and Jon Orsborn from LJ Hooker Commercial are managing the sale of the property via an expressions of interest campaign.
“This scarce industrial offering comes with huge scope to value add and reposition existing buildings or develop a multi-level logistics facility to capitalise on the unprecedented Sydney industrial leasing demand. The site is suitable for owner occupiers, investors or developers,” said Gallagher.
The fully leased asset is being sold either in one line or as two separate lots of 12,230sqm and 14,800sqm and also includes DA approval for industrial strata units at the site’s rear.
The site sits within the tightly held south west industrial market, where rents have been driven up 17% over the last year as a result of low vacancy, with Colliers forecasting further growth of another 10% in the coming year.
With three driveways off Gow Street, the property boasts easy access with the M5 and on/off ramps within close proximity.
“With the upgrade of the M5 motorway and the opening of the M8, there has been a significant increase in interest in the inner south-west,” said Osborn.
Sitting just seven kilometres out from the Bankstown Town Centre, the property is also suitable for heavy duty storage, due to its large concrete hardstand.
The expressions of interest campaign is scheduled to close on 7 September, 2022.
