Valad acquired the Sunshine West factory from Australian Unity in 2007 as part of a $40 million industrial portfolio. Much of the assets value lay in a lease to LS Booth Transport.
1st Fleet signed a six year lease in December 2010. Valad is now seeking a tenant prepared to pay annual rent of $650,000 – believed to be about the same rate 1st Fleet was paying.
Colliers International’s Nathan Bingham and Stephen Newsham are representing Valad with Knight Frank’s Andrew Macqueen and Matt Crofts.
In Sydney, 1st Fleet operates from a site in Smithfield, about 30 kilometres west of town. Its Melbourne operation by comparison was 13 kilometres from the CBD.