This article is from the Australian Property Journal archive
AUSTRALIAN supply chain solutions business Peacock Group is bringing a portfolio of seven freehold industrial assets to the market.
The properties are located in prime spots across Melbourne and Sydney, with the portfolio expected to draw in a both investors and owner occupiers, with the assets available to sell either in-one-line or on an individual basis.
“Our group has evolved into one of the leading providers of supply chain solutions in Australia and New Zealand. This sale is a core component of our broader strategy to unlock capital and leverage this exciting period of growth,” said Ryan McGrath from Peacock Group.
Chris Jones and Charlie Holmes from Cushman & Wakefield have been appointed to sell the portfolio via an expressions of interest campaign and will be supported by local brokerage experts.
The Melbourne properties include three sites located in Oakleigh, in 11 Stamford Road, 13 Stamford Road and 9 Kingston Town Close spanning a combined lettable area of 3,529sqm, plus further opportunity to acquire a consolidated corner landholding of around 7,000sqm.
Also in Melbourne is 29-31 Garden Drive and 3 Custom Road in Tullamarine for a total lettable area of 3,188sqm. Plus 7 Bayport Court in Mornington with a lettable area of 809sqm.
While the property in NSW is located at 3/170 Power Street, Glendenning and boasts a lettable area of 2,002sqm.
“Each precinct presents a fantastic location to conduct business combining the ability to service large surrounding residential catchments and connectivity to the broader metropolitan area, tapping into the significant recent increase in eCommerce demand,” said Jones, national director, capital markets logistics & industrial at Cushman & Wakefield, ANZ.
The properties become available as supply remains low across key industrial markets, with occupier demand in first half targeting smaller leases with 77% of lease deals nationally in the sub-10,000sqm size bracket, according to Cushman & Wakefield research.
“The infrastructure, connectivity and population growth supporting these properties positions each asset for long-term success,” said Charlie Holmes, director, capital markets logistics & industrial at Cushman & Wakefield, VIC.
“Offering a combination of office and warehouse, the collection’s versatility makes it an appealing investment opportunity. These strong fundamentals, coupled with the continued success and growth of the tenant, suggests our EOI process is set to generate strong competitive interest.”
The expressions of interest campaign for the Peacock portfolio is scheduled to close on 14 November 2024, with the assets available in one-line or individually.
