This asset represents a unique opportunity to acquire a premium fully leased office/ warehouse asset of substantial scale. The property is situated in Artarmon, an inner-city suburb in Sydney which has experienced significant population and economic growth.
Surrounded by a strong residential catchment, the complex is strategically positioned to service the inner Sydney employment sector.
Due to its proximity to the CBD, high-quality improvements and exposure to The Gore Hill Freeway, this asset has a blue-chip leasing history with Boehringer Ingelheim, Stryker and now VOIP having occupied the property over the last 25 years.
With a secure income stream and a passing net rental of $646,890.57 + GST (as at 1 November 2019), this opportunity allows for purchasers to acquire a defensive investment that will benefit from the continued strong rental growth for well located, North Shore Industrial properties.
KEY INVESTMENT FEATURES:
• PROPERTY DESCRIPTION A recently refurbished, freestanding two-storey industrial building with two loading docks, high-clearance warehouse area of 883sqm and office area of 1,219sqm. Complimented by 47 undercover car spaces
• IN2 Light Industrial Floor Space Ratio: 1:1.5
• Office 1,219sqm, Warehouse 883sqm, Total 2,102sqm
• Land Area: 1,634sqm (Source: SixMaps)
• Net income $646,890.57 + GST (as at 1stNovember 2019)
• OUTGOINGS $93,782.00 + GST for the 19/20FY (Lessee responsible for 100% of statutory and building operational outgoings)
• 5 + 5 years lease term
We strongly recommend your consideration of the rare opportunity to acquire a substantial holding in the tightly held North Shore Industrial market.
INSPECTION TIMES: BY APPOINTMENT ONLY
For any further information, to obtain an Information Memorandum or arrange an inspection please do not hesitate to contact Jay Sheffield – 0412 964 823 or Nick Moloney – 0477 545 111.