25 Narabang Way, Belrose NSW
Strata subdivision of 21 Industrial/warehouse/office units
Acquisition date: June 2015
Purchase price: $9.35 million
Target Investor return: 1.4x equity invested over 24 month investment term
Investment partner: Trumen Corporation Pty Ltd
Located in Belrose within the Austlink business park, approx. 15km from Sydney’s CBD, the property comprises 5,247m2 of net lettable area across 21 industrial, office and warehouse units. The property was fully leased to a range of small business operators.
The strategy for the investment is to strata subdivide the property into 21 separate industrial, warehouse and office units as soon as practicable after acquisition (target subdivision date was December 2015). These individual units would then be sold to a combination of existing tenants, owner occupiers and investors as quickly as possible thereafter (forecast to be completed by June 2017).