Global Automotive Giant Drives Investor Interest in Parramatta
Investors are revving up for an oversized 2,629 sqm site in the major commercial suburb of Parramatta, ahead of Burgess Rawson Sydney’s final Flagship Portfolio Auction for the year on 8 December.
The prime 1 Parramatta Road asset in Clyde boasts a generous 74m frontage and is securely occupied by leading motorcycle accessory business, AMX, on a five-year lease to 2024 with options to extend to 2034.
The lease belongs to the global giant GPC Asia which own the widely known brands of Repco and NAPA Auto Parts, two of the largest car accessory businesses in Australia and New Zealand.
GPC has more than 550 stores across their growing network and Burgess Rawson Sydney selling agent Darren Beehag said a strategic location and strong tenant profile of this size never stays on the market for long, particularly amid recent market uncertainties.
“When you pair a well-established global tenant on a secure lease, guaranteed rental increases and a generous commercial site in a prime location just a skip away from a major Western Sydney motorway, you have a long-term, stable and strategic asset for your portfolio,” Mr Beehag said.
“Parramatta is a commercial investor’s dream, backed by its proximity to Sydney CBD, thriving business hub and expected year-on-year growth, including predicted population increases of almost 80% across the next 20 years.
With over 45,500 Greater Sydney commuters passing the high-profile site each day, the freehold property delivers an annual net income of $194,129 per annum plus GST, annual three per cent rent increases and rubs shoulders with popular neighbours including 7 Eleven, Hungry Jacks, Supercheap Auto, Officeworks and Harvey Norman.
Just 500 metres from Clyde station and four kilometres from Parramatta CBD, Burgess Rawson’s selling agent Simon Staddon said attributes of this site would be hard to replicate.
“Very few opportunities like this come up on Parramatta Road, either for sale or for lease,” Mr Staddon added.
“Prominent retails are synonymous with the major arterial and its huge vehicular exposure provides the added benefit of easy access to over 20 car spaces, which is a huge bonus as generous parking becomes more and more challenging to find.”
The Paramatta retail asset will head under the hammer at Burgess Rawson’s final Flagship Portfolio Auction of the year from 11:00am AEDT on Tuesday 8 December at Sydney Opera House.
For more information on this property please contact Darren Beehag on 0411 226 223