60-66 Perry Street, Matraville

The Agency and Colliers are pleased to present to the market for sale 60-66 Perry Street & 1 Kelly Street, Matraville, offering an extremely rare opportunity to secure a value-add investment or flexible redevelopment opportunity, strategically positioned within Australia's most tightly held industrial market.

The asset is offered with a short WALE catering for a wide range of potential buyers, including Owner Occupiers, Developers and Investors.

Key Investment Highlights:
Significant infill industrial land holding providing 16,326m² of land and 9,838m² of Gross Lettable Area within the South Sydney industrial market. Strategic staggered WALE of 3.26 years (by income) as at 1 July 2024 offering immediate access to rental reversion upside and the ability to implement value-add initiatives. Gross passing income of $1,577,034 ($160/m²) per annum, assessed below market levels. Assessed net market income of $2,618,055 ($266/m²) per annum, providing significant rental uplift from current levels. Diverse appeal to a large cross-section of potential purchasers including core plus and value-add investors, industrial developers, strata developers and self-storage operators. Vacant 506m² block of land at 1 Kelly Street ready to develop. Significant South Sydney industrial rental growth forecasts of 11.5% over 2024, supporting sound investment fundamentals and strong underwriting prospects. Highly functional building improvements with the ability to re-lease in its current state or implement a range of value-add initiatives. Flexible E4 General Industrial zoning offering multiple potential development outcomes with a 1:1 FSR and an unlimited height limit, allowing for a potential 16,326m² of GFA.
All figures are approximate.

60-66 Perry Street and 1 Kelly Street, Matraville is offered for sale via an International Expressions of Interest (EOI) campaign.