Industrial hub’s only A-grade office tower comes to market
The only A-grade office tower servicing a leading Sydney logistics precinct has come to market, fully-tenanted and generating almost $1.3 million in annual rent.
The vendors are offering the Victoria Centre at Wetherill Park with a 5 Star NABERS energy rating and 20 diverse tenants including ANZ, Chandler Macleod and Gloria Jeans across 3,611sqm of office building.
Positioned centrally in the western industrial corridor, midway between the Parramatta and Liverpool CBDs, the Victoria Street asset carries a WALE of 2.7 years.
LJ Hooker Commercial Silverwater Director Marcel Elias and Colliers International’s Harry Bui are managing the International Expression of Interest campaign closing November 29.
Mr Elias said the Victoria Centre’s ‘one-of-a-kind’ profile in the region underpinned a track history of low or nil vacancy in the asset.
Wetherill Park is a highly sought-after corporate base, attracting many tenants and owner-occupants who have migrated further west because of residential rezonings in Homebush and surrounding Central West industrial areas.
“This is the only A-grade office option for tenants servicing clients in one of Sydney’s major industrial hubs,” said Mr Elias.
“There are more than 1600 businesses operating in the surrounding industrial catchment. We expect investors looking for security and return to respond with interest to the sole commercial asset of its kind in Wetherill Park, and one of very few in the wider M4 and M7 basin. The property’s history has shown that vacancies seldom last long in the centre.”
Additionally, Mr Elias said the diversity of tenants would attract attention from the market.
No single tenant generates more than 18% of the annual $1,276,227 net rent (excluding GST) in the tower.
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