Huntingwood warehouse trades at 3.4pc yield
A Huntingwood property purpose built for fiberglass manufacturer Colan Australia has sold to a private investor.
The $14.71 million result for 6 Woods Close reflects a low 3.4 per cent net passing yield.
It previously traded in late 2011 for $4.2m.
Colan has occupied since 1996.
The lease expires in 2027.
EOI to auction
On 9438 square metres with significant hardstand, 6 Woods Close contains a 2700 sqm warehouse and 817 sqm office.
Fully gated there are also 21 car parks.
Part of the land is said to be the resting place of John Wood, the original holder of all land now classified Huntingwood.
Ray White Commercial acted for the vendor, RA Peel Holdings Pty Ltd.
What started as an expressions of interest campaign became an auction.
“The depth of competition promoted the agency to pivot mid-campaign to an auction format in order to ensure transparency and give all parties equal opportunity to participate,” agent Peter Vines, who brokered the deal with Victor Sheu, said.
“Switching to an auction allowed us to manage that interest in a fair and open environment, which ultimately delivered a great outcome for our client,” according to the executive.
“Another really interesting characteristic was that six of the bidders were all owner occupiers to occupy in around seven years time which is incredibly unique,” he added.
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