Not for profit sells outgoing Sydney HQ
The Australian Foundation for Disability, or Afford, has sold its outgoing Minchinbury headquarters, also the Australian Disability Enterprise supported employment factory, for $13 million.
The commercial building at 3-7 Marieanne Place – with a 2116 square metre warehouse and 1396 sqm of offices – found favour with another occupier looking to expand in west Sydney.
On 5857 sqm, the site offers wraparound access to the improvement.
CBRE’s John Micallef, Alex Mirzaian and David Su marketed its development upside – with the potential to create multiple tenancies.
Minchinbury is about 40 kilometres from town.
Reluctant sale
The deal comes three months since the Afford announced it would close the facility, which provided employment opportunities, as well as its community centres – both which it said had been trading at a loss.
“We can no longer carry these kinds of losses without other critical services and customers being impacted,” chief executive officer, Jo Toohey, added.
“While confident the move was the right one…Afford is devastated by having to make it,” according to the executive.
Afford board chair Carol Bryant said “we have tried everything we could think to avoid making this decision but after two years it is clear there is no other choice”.
The Minchinbury facility will be vacated August 1.
Affected employees will have the option of moving to an Ingleburn factory.
The last community centres closed on June 27.
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