Business Insights | Property Spotlights From Private Wealth

A high-profile industrial investment in Western Sydney has changed hands for $15.2 million, reinforcing continued investor demand for securely leased assets in tightly held metropolitan markets. 

CBRE's Zomart He, Geoff Sinclair and Yosh Mendis negotiated the off-market sale of 65–67 Batt Street, Jamisontown on behalf of a NSW-based private Asian investor. The purchaser, a Sydney-based investor group, was also introduced by CBRE. 

The large-format industrial and showroom facility occupies a 4,199sqm freehold site and comprises approximately 2,433sqm of building area. The property is fully leased to ASX-listed Reece Limited, Australia's largest plumbing and bathroom supplier, providing investors with the security of a long-term national tenant covenant. 

Located within the established Penrith industrial precinct, the asset operates as a multi-functional distribution and showroom facility supporting Reece's plumbing, fire and irrigation divisions. The property also features more than 30 on-site car spaces and benefits from close proximity to major transport links and national retail operators, enhancing its long-term occupier appeal. 

The asset was acquired on a 4.83% yield, reflecting strong competition for high-quality industrial investments across Western Sydney. The sale also represents significant capital growth, with the property trading approximately $2 million above its previous sale price two years ago, equating to an increase of around 15%. 

Further underpinning investor interest was the property's attractive lease profile. Reece is committed to a 10-year net lease expiring in 2034, with six additional five-year options that could extend occupancy through to 2064. Annual rental reviews are linked to the greater of CPI or 4%, providing built-in income growth and protection against inflation. 

Western Sydney continues to attract strong capital flows as investors seek exposure to one of Australia's fastest-growing industrial markets. Population growth, major infrastructure investment and ongoing constraints on industrial land supply have supported strong tenant demand and long-term rental growth across the region. 

CBRE's Geoff Sinclair said the transaction demonstrated the depth of demand for well-located industrial assets underpinned by secure income streams and strong tenant covenants. 

"Investors continue to prioritise assets with long leases, strong national tenants and built-in rental growth, particularly in Western Sydney where supply remains constrained," Mr Sinclair said. 

"This transaction demonstrates the ongoing appeal of high-quality industrial investments in strategic growth corridors, with buyers increasingly focused on assets that provide both income security and long-term upside." 

CBRE's Zomart He said the transaction also highlighted the growing influence of Asian private capital in the Australian industrial market. 

"We have now transacted this asset twice to and for Asian family investors, which is a strong endorsement of both the asset and the depth of demand from our Asian client base," Mr He said. 

Mr He said the result further demonstrated the strength of CBRE's Asia Services Desk platform and its ability to connect investors with premium commercial property opportunities across Australia. 

"Our CBRE Private Wealth team provides a premium Asia Services Desk offering, allowing us to connect offshore capital with high-quality opportunities and consistently deliver strong outcomes for our clients," he said. 

The transaction highlights the continued appeal of Western Sydney industrial assets, particularly those offering secure long-term income, fixed rental growth and exposure to one of Australia's most tightly held logistics and employment markets. 

 A rare opportunity has emerged to secure a premium large-format retail investment in one of Tasmania’s strongest regional markets, with Rebel Sport Launceston at 124–126 York Street now offered for sale via International Expressions of Interest.  

Positioned on a prominent 1,711sqm CBD freehold site, the property occupies a commanding location in the heart of Launceston’s retail precinct, benefiting from extensive frontage to York Street and immediate proximity to the Brisbane Street Mall. The asset is surrounded by major national retailers including Woolworths, Myer, Harris Scarfe, Country Road and Kathmandu, reinforcing its position within the city’s retail core.  

Completed in 2024, the purpose-built property has been developed to Rebel Sport’s latest corporate standards, delivering an impressive two-level flagship store spanning approximately 1,800sqm. The modern premises provide investors with a high-quality, future-ready asset underpinned by long-term tenancy security.  

A key investment highlight is the ten-year lease to Rebel Sport through to 2034, with options extending to 2048. Rebel Sport is a wholly owned subsidiary of ASX-listed Super Retail Group, one of Australia's largest retail businesses. The property also benefits from a separate lease to Secure Parking, Australia's largest car park operator, providing additional income diversification.  

Generating a net income of approximately $684,850 per annum plus GST, the asset offers investors secure cash flow supported by annual CPI rent reviews and strong underlying tenant covenant strength.  

The investment is further enhanced by its location within Launceston, the commercial capital of Northern Tasmania. The city services a regional catchment of more than 230,000 people and continues to benefit from major infrastructure investment, economic growth and increasing population appeal.  

Combining a prime CBD position, modern improvements, long-term leases and national tenants, Rebel Sport Launceston presents a compelling opportunity for investors seeking a high-quality retail asset with secure income and long-term growth potential.

Get in touch: George Wilkinson, Matthew Wright and Shaun Venables.

Strong investor demand for convenience retail and service station investments has been reaffirmed following the sale of the OTR Hamilton property in Newcastle for $5.691 million at a sharp 5.65% yield. 

Marketed by CBRE's Raoul Holderhead, Rick Jacobson, Sam Mercuri, Ned Looker and Yosh Mendis as part of a portfolio auction campaign, the property attracted significant competition from investors, generating 93 bids before selling under the hammer. 

Located within Newcastle's established automotive precinct, the asset occupies a prominent corner position and is secured by a long-term lease to OTR through to 2039. The property's defensive income profile, supported by a triple net lease structure and fixed annual rental growth, resonated strongly with investors seeking secure, long-dated returns. 

The result highlights the continued depth of buyer demand for high-quality convenience retail assets, particularly those underpinned by essential retail operators, modern improvements and strong lease covenants. 

CBRE's sales campaign generated substantial interest from private investors and syndicates attracted to the sector's resilience and the appeal of secure income streams. The competitive bidding process further demonstrates the strength of the market for convenience retail investments despite broader economic uncertainty. 

The sale reinforces the growing appeal of service station and convenience retail assets, which continue to attract capital due to their defensive characteristics, long lease terms and embedded rental growth, making them highly sought-after investments across Australia's metropolitan markets.