An industrial infill site in Sydney with development approval for a strata industrial project is expected to generate strong interest as it hits the market this week.

The 4,228sq m property at 23-25 Higginbotham Road in Gladesville, in Sydney’s Lower North Shore, is approved for 18 warehouses, 29 storage units, a café and a 95-place childcare centre.

The industrial component would be a multi-level strata development including ground floor parking, with two levels of warehouse and storage above.

The site is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Anthony Pirrottina, Demi Carigliano and Angus Klem on behalf of the vendor, Motive Properties. Price expectations are north of $11 million.

Mr Pirrottina said he expected the property to generate strong buyer interest, being a unique offering in the market.

“Not only is it approved for a high-quality industrial strata development, but the construction certificate is also well advanced, so it’s almost ready for a developer to start on a project,” he said.

“The site has been cleared, levelled and all contamination remediated, making it the ideal opportunity for developers and owner occupiers.

“The current E4 General Industrial zoning permits a broad range of potential uses including general industrial, office premises, warehousing and distribution centres.”

Mr Klem said the property was located in the heart of Gladesville’s extremely tightly-held industrial precinct.

“It’s centrally located, occupying a prime infill industrial location within Sydney’s highly-sought after and accessible Lower North Shore,” he said.

“It’s not often that buyers would have an opportunity to secure a substantial industrial land holding in the area.

“The supply of warehouses within Gladesville and its surrounds is extremely limited, leading to considerable pent-up demand from an affluent local catchment from Putney, Hunters Hill and Gladesville.

“As such, the end product is expected to be highly desirable. Strata industrial rates continue to grow, with comparable new projects achieving north of $10,000/sq m of sellable area throughout Inner Sydney.”

The Gladesville industrial development site can be conveniently accessed via major arterial roads and motorways, situated just 1km from Victoria Road to the south, 2km to Lane Cove Road to the west and 5.5km to the M2.

Knight Frank’s latest Australian Industrial Review found investment volumes in Australia’s industrial market were recovering as logistics assets remain highly sought after. Investment volumes in Australia’s industrial market were $3.11 billion in Q2, up from just over $1 billion in Q1, putting it back on par with 2022 turnover levels.

The Expressions of Interest campaign for the property will close at 4pm on Thursday, October 24.

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