Brand new storage units hit the market in Brookvale
Media release - 21st November, 2014
- A series of off-the-plan storage units in Brookvale have now gone to market
- The secure units range in size from 17 sqm to 32 sqm and vary in price from $82,950 to $135,000 including GST
- Investors, businesses and even empty-nester homeowners are expected to lead the charge for the storage units
The off-the-plan development is located at 14-18 Ethel Avenue, Brookvale, with the first stage of 54 units just released, while demolition of the site’s former warehouse is now complete.
According to selling agent, Ed Tancred from Raine & Horne Petersham, the development will ultimately deliver 111 storage units, with sizes ranging from 17 sqm (valued at $82,950 including GST) to 32 sqm spaces ($135,000 including GST).
“To put this in perspective, the average size of a lock-up garage in a new, or near-new, apartment building is about 14 sqm, while these storage units have generous clearance with 3.3 metre high ceilings and 2.7 metre roller doors.”
The storage unit complex will also operate on the latest security access technology, while owners or tenants can conveniently drive vehicles right to the roller door to minimise heavy lifting.
“Space is at a premium on the Northern Beaches and we believe these units will appeal to residents from Mosman to Mona Vale, not to mention businesses, internet entrepreneurs, tradespeople, and recreational owners of boats, dinghies and classic and prestige cars,” said Mr Tancred, who has already fielded an enquiry from the owner of a sports fishing boat worth $70,000.
“It could be that you’re the owner of a $300,000 Ferrari or a tradie with tools and product strewn all over the garage at home – if so, then one of the units could be for you.
“Likewise, an internet business that needs to store inventory would find one of the units perfect for this purpose.”
Mr Tancred also expects to field enquiries from mum and dad investors, who have been priced out of the residential market, as well as self-managed super funds looking to rebalance their portfolios with a small commercial asset.
“We believe these units will generate gross yields of 5.5%, which is a stronger return than cash.”
Empty nesters considering downsizing now or in the future might also be tempted to secure a storage unit.
“If you’re currently living in a big home with plenty of storage, and considering downsizing to a smaller property with space limitations, then a storage unit could be the perfect solution,” added Mr Tancred.
To register your expression of interest in this exciting opportunity, please contact Ed Tancred from Raine & Horne Petersham on 0425 211 189.
For further media information contact:
Ed Tancred, Associate, Raine & Horne Petersham on 0425 211 189
Andrew Harrington, National Communications Manager, Raine & Horne on 02 9258 5400