R&H

Lucrative multi-tenanted industrial complex in Port Macquarie sells for $10.25 million

December 18, 2023

In the vibrant landscape of commercial real estate investments, opportunities sometimes arise that stand out for their magnitude and potential. A significant transaction took place recently in Port Macquarie on the mid-north coast of NSW, with the sale of a multi-tenanted industrial complex by leading local office Raine & Horne Commercial Port Macquarie for a staggering $10.25 million. 

 

The industrial complex located in the heart of Port Macquarie’s industrial area, approximately four kilometres from the regional hub’s CBD, boasts an expansive land area of about 16,150 sqm and a total lettable area of 7,838 sqm, offering ample space for diverse commercial activities. Impressively, it houses 61 tenants across various industrial and commercial units, underlining its appeal to a broad spectrum of businesses. 

 

Generating a substantial gross income of around $1,084,069 annually (GST excluded) and a net income of approximately $892,852 per annum (GST excluded), this complex exhibits a solid financial performance, which caught the eye of eager investors, said selling agent Graeme Garrett, Director, Raine & Horne Commercial Port Macquarie.

 

“Moreover, there exists an untapped potential, with additional income projected from current self-storage vacancies, estimated at around $20,000 annually (GST excluded).

 

“With a history of robust rental income and consistently high occupancy rates, coupled with a diverse tenant base ranging from national corporations to small business operators, this asset ensures a stable and secure income stream.

 

“Additionally, this rarely available significant industrial holding with its excellent mix of industrial and commercial unit sizes has the potential to attract a broader potential tenant base and multiple income streams.”

 

Considering the region’s growth potential, the investment outlook appears promising, with Port Macquarie Hastings forecasted to experience a substantial population increase—from approximately 80,261 residents to an estimated 102,926 by 2036.

 

“The property’s proximity to this growing population hub positions it favourably for sustained demand and growth opportunities,” Graeme said. 

 

“Managed efficiently for years without issues, the property promises an easy transition for its new owner,” Graeme concluded. 

 

For all your commercial and industrial property sales and leasing needs, contact Raine & Horne Commercial Port Macquarie at 02 6584 0544.