Charter Hall acquires Western Sydney facility for $115,000,000

Charter Hall has acquired a 43,000 square metre facility in Western Sydney for $115,000,000.

It was bought from Melbourne based private investment firm Kador Group.

Located in Erskine Park, 40-66 Lockwood Road is leased to workplace solutions supplier Winc Australia for 12 years from August 2020 on a net rent of $5.175 million per annum, with 3.25 per cent annual increases.  

With a gross lettable area of 43,085 square metres on an 8.273 hectare site, the property is zoned IN1 General Industrial and offers 40,000 square metres of warehouse accommodation and 3,000 square metres of office space, split across two floors.

The property also benefits from two truck access driveways and all-weather super awnings located along both the eastern and western elevations.

The transaction was handled by Savills Industrial and Logistics Investments team of Michael Fenton, Michael Wall, and Alison Spiteri.

The property is approximately 47kms west of the Sydney CBD. Surrounding occupiers include TNT Express, Strandbags, Bevchain, Coles, Bluescope, DHL and Linfox.