Ex-George Weston Foods plant trades for $40m
A sprawling west Sydney office/warehouse has traded between occupiers for $40 million.
Don Watson’s Coldstores has held 213 Newton Road, Wetherill Park, since paying $6.6m in 2005.
That seller was biscuit manufacturer, George Weston Foods which also occupied, since 1992.
The incoming owner, BE Campbell Group, owner occupies other warehouses in the pocket.
Wetherill Park is about 34 kilometres from town.
213 Newton Road
The Newton Rd property contains a 7309 square metre cold storage facility occupying a low 35 per cent of the two hectare site.
Plant and equipment was recently upgraded – there are four blast freezers able to produce over 60 tonne a day and shelving for 6000 pallets.
The asset was also marketed with a transferable export licence.
“The property offered a rare opportunity to acquire a vacant cold storage facility with significant value-add potential,” CBRE agents, Shaun Timbrell, Jason Edge and Janet Joljian, said.
GWF, also producing bread, flour and smallgoods, is nowadays owned by Associated British Foods.
Also today we are reporting Centennial bought a major industrial investment at Prestons, about 15km south of Wetherill Park.
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