A prominent industrial estate in one of Sydney’s strongest and tightly held markets has come to market.

Smithfield Central Industrial Estate offers a combined site area of 33,988sqm and 17,546sqm of total GLA across eight buildings.

The two adjoining properties provide strategic scale in a land-constrained market, with several enrichment opportunities supported by strong investment fundamentals.

The property is exclusively listed with the Colliers team of Trent Gallagher, Gavin Bishop, Sean Thomson and Peter Dale, with price expectations of $60 million.

“Given the central location of the property and the precinct, we expect to see strong demand from occupiers seeking ‘last-mile logistics’ space,” Mr Gallagher said.

“The ability to add immediate value through redevelopment of the sites is a major drawcard, with high order redevelopment prospects including the possibility of a multi-storey logistics facility,” Mr Bishop added.

“With new benchmarks achieved within the direct market and the ability to acquire and further amalgamate adjoining sites, the potential could potentially allow for the creation of a masterplan estate,” Mr Thomson said.

Tenant demand continues to substantially outstrip availability by a large margin, with 1.8 million sqm of active tenants briefs within the Western Sydney market alone.

On top of this, vacancy is historically low in the Central West for buildings over 5,000sqm, with it sitting at 0.2 per cent and Smithfield at 0 per cent, which continues to drive rental growth.

The property has a WALE of 1.7 years with a diversified income stream and a net passing income of approximately $2.137 million, which is considered substantially below market levels. This short WALE time provides an excellent prospect to add value through rental reversion or redevelopment.

Current notable tenants include SC Logistics, Australian Select Timbers, AAF International and Jalco.

338-350 Woodpark Road & 1 Dupas Street, Smithfield is for sale via an Expressions of Interest campaign closing 3:00pm (AEST) Wednesday, 17th May 2023.

To request a copy of the Information Memorandum please contact one of the Colliers marketing agents via the contact details below.