Charter Hall buys Bing Lee distribution centre, store
Charter Hall is buying a distribution centre and large format retail complex offered by Bing Lee with a leaseback.
The Old Guildford asset, 702 Woodville Road, hit the market mid-year with c$85 million price hopes.
On 2.76 hectares, it contains 16,743 square metres.
Bing Lee has occupied since 2008 – part for its head office.
Officeworks and Sonic HealthPlus are other occupiers.
The weighted average lease expiry is c4.5 years.
There are also over 100 car parks.
Old Guildford is about 28 kilometres west of Sydney’s CBD (continues below).
High profile site
More than 40,000 vehicles a day pass 702 Woodville Rd.
Colliers’ Gavin Bishop, Sean Thomson, Michael Crombie, Trent Gallagher and Harrison Jones were the agents.
Two months ago we reported Charter Hall bought six Bunnings stores with leasebacks.
In 2023 meanwhile, it acquired Port Melbourne’s Vegemite factory from Bega Cheese with a leaseback after an earlier deal to Hines fell through.
The property giant has also in recent years bought assets with leasebacks from, amongst others, Aldi, David Jones, Patties Foods and SPC.
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