Private Investor Races into Eastern Creek
12 February 2016
A private investor has paid $5,040,000 on a 6 percent yield for an industrial facility at Peter Brock Drive in Eastern Creek in a deal brokered by Savills Australia.
According to Savills Industrial Executive, Leigh Burges, the property at 10 Peter Brock Drive was sold subject to a long term lease, expiring in 2023 with a further five year option, to PPG Industries Australia Pty Ltd at a current rental of $302,848.
Completed in 2013 to accommodate PPG Industries NSW State Office and Training Centre requirements, the property comprises of a 690sq m high tech office and 778sq m warehouse facility with parking for 25 vehicles and is positioned on a 3,100sq m allotment.
Mr Burges said there is strong demand for assets with strong leasing covenants in excellent locations.
“Buyers are continually on the lookout for investment opportunities with solid leases in place which was reflected in the solid result.
“As funds focus on the larger assets, it is the private equity groups who are scrambling to seek the smaller assets where yields are still relatively strong.”
Strategically positioned on a corner site with high exposure to Peter Brock Drive and the M4 Motorway, the industrial facility is also within close proximity to the Westlink M7/M4 Interchange, the hub of road transportation within the Sydney Metropolitan area. The Eastern Creek industrial estate is located 34 km west of the Sydney CBD and is considered to be Sydney’s premier industrial logistics locations.
