A large industrial property just 10 kilometres northwest of the Sydney CBD in Lane Cove West is expected to be met with strong buyer demand as it hits the market this week.

The facility at 2 Lincoln Street in the Lane Cove industrial precinct, which sits on a 6,739sq m site with panoramic views of Blackman Park and Lane Cove River, is being sold by Aviator Capital.

It has 9,263sq m of building area including warehouse and office space across three spacious high-clearance industrial units, with one on the basement level and two at the ground level, and 117 car parks.

The property is being taken to the market via an International Expressions of Interest campaign run by Angus Klem and Graeme Russell of Knight Frank.

The industrial building is 94 per cent leased with major tenants including Key Pharmaceuticals, NAPA Centre, S.M.A.R.T. Repairs and Evolution Surgical.

It has a net passing income of $2,107,341 per annum, with an estimated fully leased income of $2,310,728 per annum.

Mr Klem said the position of the industrial infill and last mile location property would be a big attraction for buyers.

“Amid an ongoing shortage of industrial property demand remains steady, so we anticipate strong purchaser interest, particularly as we have recently been seeing renewed investor interest in the market,” he said.

“Situated at the junction of Sirius Road and Lincoln Street, the property is within close proximity of Epping Road and the M2 Motorway, part of Sydney’s Orbital Network, providing convenient access to all parts of metropolitan Sydney.

“The Lane Cove Sub Transmission Switching Station is also opposite the property on Sirius Road, which is ideal for tenants requiring access to higher than normal power.”

Mr Russell said the secure income offered by the property would be another drawcard for buyers.

“The property is 94 per cent leased to six high-quality covenants on long-term leases providing secure and diversified income with a robust 4.35 year WALE,” he said.

“Further, 71.5% per cent of the tenants are strong covenant medical users with high retention prospects.

“Since the start of this year there has been 7,000+ square metres of leasing transactions within the building emphasising the strong demand for both office and warehouse space, and there is also potential for rental reversion upon re-leasing.”

Other major businesses found within the Lane Cove Industrial Estate include Cochlear Implants, Mitsubishi Motors, Harley-Davidson, Storage Kings, Autism Partnership, Optus, Air Trunk, Hyundai and JB Hi-Fi.

The property is for sale via International Expressions of Interest closing at 4pm on Wednesday 27th September 2023 (AEST).