Propertylink has capitalised on the strong demand for well-leased industrial assets across New South Wales with the recent sale of its Lisarow facility on the Central Coast for $9.63 million.
Located at 4-8 Sylvania Way, the 9,953sqm modern warehouse facility is fully leased to Interpod Offsite – one of Australia’s leading designers and manufacturers of prefabricated bathroom pods.
Generating a net passing income of $852,000 per annum, the property was sold with a 5.7-year WALE after Propertylink successfully re-positioned the asset following the departure of a previous tenant.
CBRE’s James Santi, Ben Byford and Peter Mangraviti negotiated the off-market sale on behalf of Propertylink to a private investor.
Mr Santi said the property’s attractive tenancy profile provided a compelling investment opportunity.
“With a secure lease in place to an established national business, this property attracted strong demand from investors looking to capitalise on the ongoing strength of the state’s industrial and logistics sector,” Mr Santi said.
“This sale highlights the depth in demand for well-leased logistics assets in all locations, including regional areas, where private investors are shifting their focus amid historically low yields in metro locations.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
