Pickleball operator signs 10-year Sydney lease
House of Pickle has signed a 10-year lease for a Botany industrial building.
The indoor racquet-sport operator is converting the c2461 square metre property at 21 Underwood Avenue into its first south Sydney venue.
Seven indoor pickleball courts and a licensed bar are planned.
It will be the group’s seventh New South Wales facility; it also operates at Frenchs Forest, Darling Harbour, Tuggerah, Seven Hills, Bellambi and Albion Park.
In South Australia, it occupies a facility at Salisbury Downs, in Adelaide, and, in Queensland, at Currumbin Waters on the Gold Coast. Other Sunshine State facilities are set to open at Hillcrest and the Redcliffe Peninsula. In Victoria, it recently opened in Port Melbourne.
Plans to expand into New Zealand are also on the cards – the group leasing properties in Mount Maunganui and Auckland.
Fast growing operator
The Botany property, also known as 36 Chegwyn Street, last sold in December 2019 for $6.303 million (continues below).
Cushman & Wakefield’s Nick Mallett and Greer McLeod acted for that buyer.
The deal comes three months since realestatesouce.com.au reported ESR Australia securing Place of Padel at its Wetherill Industry Park in Wetherill Park, for an initial five years.
Twelve courts are earmarked for that 5262 sqm space.
A May report by JLL also identified pickleball and padel operators as an emerging source of demand for industrial space, with operators seeking premises near residential catchments and lease terms long enough to justify fit-out costs
Botany is 11 kilometres from Sydney’s CBD.
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