Rutherford workshop/ warehouse sold
Tony Cant Commercial Sales and Leasing Agent Michael Maffey recently negotiated the sale of a property originally listed for lease by matching a buyers needs to a property.
The local purchaser contacted Michael during his search for a property that provided amenities including overhead crane and hardstand for heavy vehicle. Michael successfully negotiated the successful sale for the owner of 10 Shipley Drive, Rutherford, who did not expect a sale due to the current economic conditions and had only recently decided to lease the property through Tony Cant Commercial.
The facility included many features, comprising of:
• 400 amps power into the site
• two container height roller doors
• 8 m eave height
• 3 tonne crane
• two offices + open plan office
space + reception area (A/C)
• concrete car parking / hardstand
• compacted gravel hardstand
• full workshop amenities
• fully fenced / secure site
Cardiff property fetches over $1.4 million
The Cardiff headquarters of Regency Shower Screens and Wardrobes has been sold by Alan Tonks of Raine & Horne Commercial. Mr Tonks said Regency was part of the Australian division of Jeld-Wen which includes such well-known names as Stegbar, Airlight Windows and Corinthian Doors. Jeld-Wen has operations in the US, Asia and Australia, with more than 20,000 employees world-wide. Mr Tonks said 73 Munibung Road was subject to a three-year lease and sold to a local investor for $1,428,500 which is an 8.7%. The building has a wide frontage the Munibung Road and comprises a showroom, warehouse, mezzanine and storage.
Investment property sold for $1.8 million
An industrial investment property at 12 Alhambra Avenue, Cardiff which has been leased to Couriers Please Pty Ltd on a 5 + 5 year lease has sold for $1.8 million. The property was recently sold by Colliers International Industrial Director Byrne Tran for $1.8 million to a local investor in an off market transaction. The sale reflects a yield rate of approximately 8.33% which is reflective of the quality of the tenant, building and location. The building with an architecturally designed office facade is positioned in the Cardiff Industrial area. With a total building area of 2185 sqm, the property offers a professional showroom, administration area, five offices and a manager’s office with balcony, boardroom and amenities.
Grain Store building changes hands
The Grain Store building including a restaurant and separate large first floor three bedroom plus mezzanine apartment has been sold at auction for $2.15 million. The property has commercial tenancy on a strong lease for eight more years plus option. The residential suite was vacant to facilitate the auction process. The property was well located in Newcastle’s East End, close to Newcastle Beach, the CBD and Newcastle Harbour. The marketing campaign generated over 100 potential buyers inspecting the property. Walkom’s sales team of Graeme Brownlow, Nick Christensen and Scott Walkom facilitated the sale.