The former Electric Lamp Manufacturers of Australia site, 54 Clyde Street in Hamilton North, has sold for $31 million to a National Investor who plans to give the 26-tenanted property a “facelift.”

The historic site at 54 Clyde Street, Hamilton North, has been sold for $31 million, marking the Hunter Region’s largest industrial investment sale in recent years. This transaction highlights the property’s exceptional value and strategic importance within the Hunter region.

Once home to the Electric Lamp Manufacturers of Australia, 54 Clyde Street has undergone a lot of transformations over the years and is now a vibrant mixed-use asset. Covering 2.81 hectares with a building area of 2.11 hectares, the property supports a diverse tenant mix of 26 businesses, generating a robust gross income of $2,148,698.97 per annum plus GST.

The site’s attractiveness as an investment opportunity was clearly underscored by the interest generated in the market.

The sale campaign gathered substantial interest, with 79 leads and six competitive offers. The new owner, a national investor, plans to enhance the site further by continuing to lease to new tenants, nurturing existing tenant relationships, and implementing significant property upgrades.

“The sale of 54 Clyde Street highlights the property’s intrinsic value and strategic location,” said Brad Crouch, Associate Director at Commercial Collective. “This transaction was synergistic with Commercial Collective’s mission to support infrastructure development and economic growth within the Hunter region.”

Benjamin Morello, Senior Executive at Commercial Collective, added, “The combination of the property’s rich history, diverse tenant mix, and prime location presented a unique investment opportunity. We are excited to see the new owner build upon and enhance this asset.”