Expectations are over $50 million for Williamtown Aerospace Centre, which is being marketed as a significant investment opportunity.
Peter Macadam and Chris Chapman, of Colliers International, are marketing the fully leased property at 1 & 2 Technology Place (main picture) through an expressions of interest campaign.
"There has been a strong response to the opportunity presented at Williamtown, which is not surprising given the strategic location adjacent to the Airport and RAAF base, coupled with the unrivalled covenant strength," Mr Macadam said.
"Enquiry has been coming from fund managers of listed and unlisted property funds, together with syndicators and high-net worth investors."
The aerospace centre is positioned at the entrance to Newcastle Airport. It is an office and light industrial development and comprises six stand-alone buildings. They are fully leased by a mix of tenancies, many of which collaborate on defence contracts. It has a diversified income stream of around $3.321386 million net per annum.
Expressions of interest close March 11.
Meanwhile, Mr Macadam described the response to a Cardiff property he is also marketing through an expressions of interest campaign as "extraordinary".
Interest has reportedly come from local and out-of-town developers for the infill development site at 50 Ada Street. It is being marketed with a guide of $8 million and expressions of interest close March 11.
The property is around 5.636 hectares and is zoned R2 Low Density Residential and part R3 Medium Density Residential.
"Anything that has an infill location always attracts a lot of attention because all of the services are right on your doorsteps," Mr Macadam said.
"The relative value for our market to other markets is being acknowledged by developers and non-local developers."
The property is located on the southern fringe of Cardiff and comprises a disused sports field and informal parking area.
Vacant residential sites
Knight Frank Newcastle have been appointed by Transport for NSW to sell two surplus vacant residential sites in New Lambton.
They are selling a 500.8 square metre parcel of land at 20 St James Road. It has additional rear-lane access.
They are also selling a 748.7 square metre piece of land at 136 Kings Road. Both lots are zoned R3 Medium Density Residential.
Selling agent Nick Lane said they had received over 230 enquiries since launching the campaign prior to Christmas, with buyers comprising a mixture of developers and family home occupiers.
The properties will be submitted for online auction on February 25.
