The Williamtown Aerospace Centre, a leading edge defence industry cluster at the heart of the RAAF Base Williamtown and Newcastle Airport precinct, has been sold for $54.885 million.
Williamtown Aerospace Centre was sold fully leased to 15 tenants across six buildings, occupying a total of 7557 square metres of net lettable area on a 1.7 hectare site.
The Aerospace Centre was put to the market through Colliers in April with The Trust Company (on behalf of the Australian Unity Diversified Property Fund) exchanging and settling contracts in May.
The vendor was a local syndicate, including Hunter Land and James Garvey of Delta Associates.
"The interest level was excellent although not surprising given the covenant strength of the tenant book, and strategic location adjacent to the Newcastle Airport and RAAF Base Williamtown, with the majority of interest coming from listed and unlisted wholesale funds," Colliers national director Peter Macadam said.
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