CBRE is offering for sale 30 Magazine Road, Dry Creek, on behalf of Ferrier Hodgson as Receivers and Mangers.
Located on the corner of Magazine Road and Cormack Road, the well recognised Dry Creek property is comprised of two land parcels with a total site area of 10,000sqm. There is further development potential on the front allotment in particular.
The site presently comprises a main warehouse which was constructed around 2007 and includes 400sqm of offices over two levels. These have been designed to allow for two separate occupiers.
At the rear of the warehouse is a large canopy area, which could easily be enclosed to provide up to 749sqm of warehouse space, or could be used in its current format for drive through undercover loading.
CBRE Associate Director Jon Nitschke said; “The property could easily suit a number of industrial operations including hire yard, transport and works depot groups. The site was formerly by TLT Scaffold Hire, with the business being offered for sale separately through Ferrier Hodgson’.
“Price expectations are in the low to mid $2 million range, with the property being offered for sale by Deadline Offers to purchase. There is excellent value on offer here, with superbly presented improvements and a huge site with development potential."
The property is offered for sale via a Deadline Offers to Purchase closing 23rd February 2017 at 4pm
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.