A ‘set and forget’ style investment and home to the One Drop Brewing Co. in Botany has hit the market this month, targeting acute investors looking to acquire a strong return with future land bank upside.
Centrally located within South Sydney, with easy access to main arterial roads and ample amenities, 5 Erith Street, is well located in the heart of Botany’s up and coming commercial and industrial precinct, and is just 5 minutes* from both Port Botany and Sydney Airport and 15 minutes* from Sydney’s CBD.
The Freehold site features two standalone buildings totaling 1,365sq m* on a 2,023sq m* site. One Drop Brewing Co is situated within the 559sq m* front building, which is being refurbished into a microbrewery and bar – which makes it a leader in the adaptive reuse of industrial buildings in Botany.
Plan A Logistics and Dig Deep Promotion are situated in the back buildings which feature 6m* internal clearance, roller door access and amenities. These two buildings are 378sq m* and 428sq m* respectively, totalling an area of 806sq m*. The site is sealed concrete and provides ample car parkin with IN1 General Industrial under Bayside Council zoning.
For sale exclusively through Edward Washer and Jake Savery of Savills Industrial & Logistics, this investment opportunity provides an outstanding passing income, strong WALE and 4% fixed annual rental increases on both tenancies.
According to Edward Washer, Director | Head of South Sydney at Savills Australia, Investors are looking for certainty and no leasing risk due to COVID-19.
“This asset meets those prerequisites boasting superb tenant covenants and the building has been converted away from a traditional warehouse to a creative type use which is a trend we are seeing within the area”.
Mr Washer went on to say that Botany’s long term prospects are strong. “While still an industrial hub, the suburb is undergoing huge gentrification with many creative and commercial operators taking advantage of the style of existing buildings and the location’s proximity to the CBD and residential hubs, such as Waterloo, Green Square and Sydney’s Eastern Suburbs. The existing tenant One Drop Brewing Co. is definitely a leader in this transformation.”
The property is bounded to the east by Hale Street and to the west by Erith Street. It is situated just 250m* to Botany Road and 750m* to Foreshore Road providing unparalleled connectivity and accessibility throughout greater Sydney.
According to Jake Savery, Executive at Savills Australia, “The surrounding area traditionally consisted of older style manufacturing facilities. In recent years this has made way for modern privately and institutionally owned premium grade industrial assets. This site would be ideal for a similar use.”
“This is a rare opportunity to acquire an industrial asset in one of Sydney’s most transformational suburbs and we should see strong demand as long term prospects remain resilient as South Sydney continues to be a premier industrial hub”.