A spacious piece of the heritage listed former Ford Factory at 350 Parramatta Road, Homebush has hit the market for lease.
The Ford Motor Company of Canada assembly plant was first established in NSW at Sandown with operations shifting to a new car manufacturing and assembly plant at 350-374 Parramatta Road, Homebush in 1935.
Operating 24 hours a day and employing around 1200 workers on split shifts, the factory’s first car was a 1936 Ford V8 and its last a Ford Laser.
Re-developed in 2005 to become one of the area’s most prolific business parks, the building’s history remains intact, the façade of the former Ford Factory Building facing Parramatta Road being retained and is heritage listed on the Strathfield Local Environmental Plan.
This heritage building now has 1,879m² of office space available for lease through GJS Property, “in a modern estate which combines heritage architecture with contemporary industrial design”, according to the listing agents.
“Direct exposure and access to Parramatta Road and with easy access to the M4 Motorway, Centenary Drive and Homebush Bay Drive, this will be a much sought after space,” they added.
Commercial property investors are currently buying up big in Cairns, and there are no signs of slowing down according to commercial property agency, Burgess Rawson, with yet another property in Cairns going under the hammer at the Melbourne auction this week.
According to property agent, David Ingram of Burgess Rawson Queensland, this sale is evidence of the continued demand for quality investment properties in Cairns with the Total Tools retail property selling for $2,987,500 with a yield of 7.2%.
“Cairns is considered the capital of Far North Queensland with an emerging population of approximately 250,000 people and large scale domestic and foreign investments,’’ he explained.
“There has been a real increase in infrastructure development and Tourism in the region which has strengthened the appetite for investor looking for well leased property in prominent locations.”
Mr Ingram said people flew in from all parts of the country to inspect this top-end offering.
“We had people fly in from Darwin, Noosa Heads, Sydney and Southern Victoria to inspect this property with bidding on the day taking place in most Australian capital cities. In addition to this, we found that approximately 80% of our enquiry came from Sydney, Melbourne and Brisbane.
“We’ve now sold three prominent properties in the Cairns region in the past month, which have all sold at strong yields. Southern investors are increasingly looking at the Far North Queensland region as a safe investment location with attractive demographics,” he added.
Producing a net income of $215,000 per annum, excluding GST, the tenant is an Australian owned trade network that has been in operation for over 25 years and has over 60 stores nationwide.