Owner-occupiers looking to beef up their post-COVID online operations, and businesses forced to relocate due to construction of the Parramatta light rail network are expected to be among buyers contending for an Auburn warehouse, on the market for the first time in 30 years.
Listing agent Robert Dowdy of CBRE Western Sydney said 259/261-263 Parramatta Road, Auburn, which has a price guide of around $9 million, could be developed or used as an investment but would likely prove particularly popular with owner-occupiers.
The property, zoned B6 Enterprise Corridor, is close to large retailers including Costco, Harvey Norman, Coco Republic, Bunnings Warehouse, Fantastic Furniture, Adidas and Nike, and is about one kilometre from the M4 on/off ramp.
Mr Dowdy said he had seen a growing demand for owner-occupier sites in the area, particularly those under 1000 square metres.
He attributes part of this demand to a Light Rail directive by the state government in late 2019.
“Over 100 occupiers from around Camellia have been acquired by the Government for the new Light Rail project and have 12 months to vacate and find suitable premises. This has ultimately meant that inquiries have increased throughout the central west as these companies want to stay in close proximity to all the main arterial roads which the central west has to offer,” he said.
Companies that were looking to beef up their logistics operations in the wake of the COVID-19-fuelled online retail boom would also be attracted to the property.
“Companies like the B6 Enterprise Corridor zoning as they can warehouse/retail under the zoning. Anything under 1000 square metres is highly sought after due to the affordable price point, and companies [also want] to be located in a central location like Parramatta Road [or near the] M4 Motorway,” Mr Dowdy said.
“Companies want to be based around the large national and international brand heavyweights.”
The site – which has a freestanding building of 2655 square metres – could be the ideal opportunity for companies to expand their online operations.
“Post COVID-19, retailers will be faced with a very different customer experience. Currently, the online retail experience in Australia is behind other parts of the world, where customers can shop in-store via their mobile device. Retailers are seeing this as an opportunity to outperform their less nimble competitors and build a more digital, structured business for the future.”
The existing building offers eight container-sized roller shutter doors and a clear-span warehouse reaching eight metres. It also includes a ground-floor showroom area.
Other potential uses for the 3439-square-metre site include developing industrial units or a hotel, subject to the relevant planning approvals.
The property is for sale by expressions of interest closing August 20.