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CommercialReal Estate

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February 12-13, 2011

FLOWERSALESBLOOMONLINEPAGE 14

Carolyn CumminsCOMMERCIAL PROPERTY EDITOR● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

Banks thaw, sales to soar

Brand new digs ... Wilh Wilhelmsen Investments’ new facilities, which will be built at Dunning Avenue in Rosebery.

SALES activity in the southernSydney and eastern suburbs mar-kets have kicked off the new year ona busy note with more than $10 mil-lion worth of industrial and com-mercial property changing handsduring the past month.

It is expected the trend will con-tinue in the coming months as bankcredit thaws and investors who havebeen on the sidelines for the pastthree years make a return.

A senior negotiator at agency Bil-licorp, Fallon Leek, was one of thebusier agents and recently sold thesite at 36 Doody Street, Alexandria.

Ms Leek handled the negotiationson behalf of the Wilh WilhelmsenAgency to sell the freestandingindustrial premises to an owner-occupier for $3.2 million. ‘‘The saleexchanged in late December 2010,’’Ms Leek said.

‘‘It would not have gone aheadwithout flexibility from both vendorand purchaser, including a delayedsettlement with options.

‘‘This flexibility will allow time forWilhelmsen to build their new facil-ity in Rosebery [under their Kubisbanner], which will include about a2000-square-metre industrial facil-ity for themselves, as well as anadditional three office/warehouseindustrial units [each 600 squaremetres], which will be comingonline for lease in the fourth quarterof this year.’’

The finance director for Wilhelm-sen, Adrian Bluett, said the sale termsallowed the group to lock in the sale

with a number of options on the com-pletion date while he finalised thedevelopment of the group’s new facil-ities in Dunning Avenue, Rosebery.

Leda Holdings was another activeinvestor in the region and recentlyexchanged contracts on an18,538-square-metre industrialestate at Chifley Street, Smithfield,from Dexus Property Group.

While the majority of the estate iscurrently leased, Leda will sell lotsstarting from 600 square metres,following approval.

The executive chairman of Leda,Bob Ell, said his group believeddemand was building again for well-located industrial units in Sydney.

‘‘The product we are offering rep-resents significant value to owner-occupiers and investors who arelooking to get an affordable foot-hold in the industrial market,’’Mr Ell said.

‘‘The continuing economic stabil-ity is producing confidence in a mar-ket experiencing a shortage in supplyof prime-grade assets [and] this willsee quality refurbished property offerbetter returns to investors than it hasin previous years.’’

Mr Ell believed most of the pain inthe industrial property sector inSydney had passed and conditionswould continue to improvethroughout the year as the economy

grew further and companiesregained confidence after the globalfinancial crisis.

Closer to the beach was the recentsale of the Coogee Village complexat Coogee, comprising a shoppingcentre anchored by a Woolworthsoutlet, for $9.9 million.

The buyer was a private syndicatemanaged by Errol Diamond of Dia-mond Properties and was negoti-ated by Simon Muirhead and BenStewart from the retail sales divisionof Savills NSW.

Mr Stewart and Mr Muirhead saidopportunities to secure qualityneighbourhood retail centres werehighly sought-after by investors.

CommercialReal EstatePAGES 1-13, 24

BusinessesFor SalePAGES 13-16

GeneralAuctionsPAGES 17-18

PAGES 18-19

NoticesPAGES 20-21

Built to gothe distanceBoatingPAGES 22-23

Banksia, 272 Princes Hwy Darlinghurst, Lot 32 & 33121-129 William St

Mortlake, 1 Herbert St

SHOWROOM> Approx 341m2> Two car spaces> Over two titles> Full glass frontage to

William St> Zoning: 3 Business

AUCTION8 March 2011 at 10.30amLevel 1, 55 Harrington St, Sydney

Michael Binskin 0416 044 367Sam Hill 0419 747 440

LEASED TO KFC> Busy restaurant and drive through facility> Lead-in corner on Princes Highway

Banksia/Rockdale> North and southbound vehicle access> Rental $172,837.56 p.a net> Leased to Feb 2013 + 10 year option

AUCTION1 March 2011 at 10:30amLevel 1, 55 Harrington Street, Sydney

Sam Hill 0419 747 440Gail Marshall 0418 254 948

AUCTION AUCTION AUCTION

9747 4400johnhill.com

FANTASTIC CORNER SITE> Land: 347.8m2> Approx 185m2 building

including factory, offices andamenities

> Dual loading docks and rearyard off Adams St

> Roller door access fromHerbert St

> Zoning: R1 General Residential

AUCTION5 March 2011 at 11.00amOn-site

Michael Binskin 0416 044 367Sam Hill 0419 747 440

EOI

www.colliers.com.au

Securely Let Investment

40-46 Fairfield Street, Fairfi eld• Gross income: $1,125,000 pa • Building area: 9,294m² (approx) • Term - 5x5 years• Leased to leading Australian manufacturer• Excellent depreciation - Built 2008• Under instructions from Receivers and Managers

For Sale by EOI closing Friday 18 March at 4pm www.colliers.com.au/5746583

Gavin Bishop0401 146 051 02 9840 0233Tony Durante0412 101 100 02 9840 0214

Boundary lines are indicative onlyBoundary lines are indicative only

FAIRFIELDSTREET

FAIRFIELD STREET