The founders of Nationwide Towing & Transport, a company now majority-owned by the RACV, are selling a portfolio of four industrial investments across Australia.
Offered with a leaseback, in one line or individually, the properties return annual rent of $901,160 and are expected to trade for a total of more than $14 million.
All up, providing a gross lettable building area of 6477 square metres, the portfolio offers a weighted lease expiry of 3.9 years.
The most valuable investment is in Sydney’s Seven Hills and includes a modern 2594 sqm office/warehouse on a 5225 sqm block returning annual rent of $360,360. The site at 7 Tollis Place includes surplus land available for redevelopment and 30 car parks.
At 12 Industrial Avenue, Molendinar, about eight kilometres west of Southport in Queensland, a 1673 sqm facility on a is rented for $234,000 per annum. The complex covers just 34 per cent of the 7192 sqm block and also offers development potential.
In Melbourne, a 1687 sqm office warehouse a 10 Ashburn Place, Blackburn, on a 1586 sqm block, returns annual rent of $213,200.
A fourth property, at 42 and 44 Lancaster Road, Wangara, is about 20 kilometres north of the Perth CBD. The 523 sqm office/warehouse on a 2739 sqm plot returns annual rent of $93,600. Major occupiers around this site include AHG, Ford, Honda, Mazda and Toyota.
Earlier this week we reported the same vendors are selling the Melbourne Impound Yard, in Melbourne’s Collingwood – a 2016 square metre site with redevelopment potential, expected to sell for more than $15 million.
Nationwide Towing & Transport was established in 1960.