Supplements giant drops $20m for Sydney site
Elite Supplements will relocate its headquarters from Canberra to Sydney after buying a site for an office and distribution centre.
The 18 year old business, which trades from some 120 stores, a third of them franchises, has paid $19.9 million for 21-23 Lexington Drive, Bella Vista, part of the Norwest Business Park.
With the deal, Capital Corporation’s plan to build two eight level offices there – a project until recently marketed as Canopy – is off the table.
Ray White Commercial’s Peter Vines and Victor Sheu with Colliers’ Paul McGlynn and Jordan McConnell were the agents.
Costi Cohen’s Zackery Harkins and Tas Costi represented the buyer. It is the third property Elite has bought in recent years.
Change of plan
Covering 1.02 hectares, 21-23 Lexington Dve is the last undeveloped Norwest Business Park block (story continues below).
Zoned SP4 Enterprise with 86 metres street frontage, it was marketed for its potential to yield a commercial product other than office – including a data centre, health clinic or serviced apartment complex.
Capital’s proposal, penned by Koichi Takada, contained 27,745 square metres including ground floor retail, but no car parks.
Elite is planning a warehouse-based product.
Bella Vista is about 33 kilometres north west of Sydney’s CBD.
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