Acquired in February 2014 for $11.8m, Portside Business Park is a six-unit industrial estate fully-leased to a mix of local and international tenants across a range of industry sectors ranging from manufacturing to logistics.
The estate incorporates two separate buildings, each housing three units ranging in size from 1,000 to 1,300 m2.
Portside Business Park is located in close proximity to Sydney Port and Sydney Airport on an approved B-Double Route.
With the pressures on industrial land supply from the significant wave of conversions from industrial to residential and commercial, the South Sydney Region is undergoing a major transformation.
Tipalea Partners has seen these pressures flow through to rents and land values in the region and following a minor refurbishment of the facility, sold all the strata units in the estate for $23.7m in 2016.
Project Statistics
| Address: | 73 Beauchamp Rd, Matraville NSW |
| Site Area: | 9,143 m2 |
| Net Lettable Area: | 6,636 m2 |
| Sale Price: | $24,000,000 |
| Yield: | 4.5% |
| Investor IRR: | 31% |
| Equity Multiple: | 2.3x |
| Site Purchased: | February 2014 |
| Sale Date: | November, 2017 |
| Architect: | Lippman Architect |
| Bank: | BankWest |
