Interest came from local and interstate buyers before an industrial distribution facility in Beresfield’s Gamma Close recently vacated by Tamex Transport was sold for $1.67 million.
Marketing agent Reece Harrison, of Global Commercial, said owner-occupiers showed strong interest with two offers being negotiated simultaneously on the asking price of $1.695 million.
He said the purchaser was based in Queensland and the key selling point was “the size of the lot” at 5100 square metres, which allowed for a potential subdivision into two tenancies with both retaining hardstand areas.
The commercial/industrial market in general is still relatively strong at present due to historically low interest rates and super funds performing well for investors.Reece Harrison
“The commercial/industrial market in general is still relatively strong at present due to historically low interest rates and super funds performing well for investors, along with some local employment growth as well as some major infrastructure development within and outside the Newcastle CBD [Central Business District] area,” Mr Harrison said.
Mr Harrison sold Tamex their new facility in Elwell Close Beresfield for $3.91 million before the sale of their former site to a Queensland-based rail infrastructure company.
The site’s 1250 square metre warehouse had an open-sided awning at rear, office accommodation, lunchroom, amenities and security cameras.
The site had two large hardstand areas with easy access to multiple high roller doors to enable the shed to operate as a drive around site if required.