Goodman expands Botany footprint
Goodman has expanded its Botany holding buying 3 and 5-7 Hale Street from interests associated with the occupier.
The sites are adjacent to the group’s Portair Industrial state (at 1A Hale St).
The outlay is $13.5 million.
The vendor was linked to the Hird family, which bought the properties in 2002 and 2007 respectively.
Portair expands
Spanning a total 3485 square metres zoned IN1 General Industrial, the amalgamation includes 1582 sqm in three buildings, including a high clearance clear-span warehouse.
There are also three crossovers (continues below).
The property sold with a two year lease in place; the annual net passing income is $450,000.
“Industrial land in the Botany and Banksmeadow precinct is incredibly tightly held and when opportunities of this scale come to market, they generate significant interest from both investors and owner-occupiers,” Cushman & Wakefield’s Nick Mallett, who brokered the deal with Jake Savery, said.
“Buyers recognise the strategic importance of this location, particularly given its proximity to Port Botany, Sydney Airport and the broader motorway network,” he added.
“With limited supply of industrial land remaining in the area, competition for sites with genuine long-term redevelopment or repositioning potential remains extremely strong,” according to the executive.
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