Big Bus Tours sells HQ with a leaseback
Global tourism operator Big Bus Tours has sold its Sydney headquarters with a 10-year leaseback.
The 2662 square metre holding, 13 Meadow Way, Banksmeadow, fetched $9.25 million.
The buyer is Pittwater Industrial, a fund manager led by former Urbanest directors Ted Hawkins and Dave Munro.
The result reflects a 5.4 per cent net passing yield.
Big Bus Tours operates City Sightseeing.
The leaseback is structured with two five-year options.
13 Meadow Way
The Banksmeadow property contains 1949 sqm of improvements including a 546 sqm office.
There is also a workshop and 1403 sqm of covered hardstand and warehousing (continues below).
The result prices the land at $3475 per sqm.
In the Port Botany logistics precinct, it is about 12 kilometres south of Sydney’s CBD.
Colliers’ Trent Gallagher and Billy Marsh were the agents.
The deal comes nine months since realestatesource.com.au reported Pittwater paid $53m for a Brisbane business park.
In 2024 the group acquired an Ingleburn, Sydney, investment, for $39m.
Two years earlier it snapped up three industrial properties in the city from Bob Ell’s Leda Holdings.
The priciest asset in that portfolio, Mascot’s Kings Business Park, cost $66.75m.
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