Listed Australian company buys large industrial property in ACT

JLL ACT has sold 67 Kendall Avenue - a prime industrial property, located in the sought-after Queanbeyan West Industrial Precinct - for $10.25 million.

The property consisted of a 4,440sqm warehouse and showroom on an expansive 11,837 sqm block. 

JLL Associate Director Capital Markets ACT Mitch Frail said the campaign attracted significant interest during the five-week Expressions of Interest period, attracting a multitude of enquiries from both investors and occupiers.“We were pleased to receive a total of 8 bids, culminating in the vacant possession sale of the asset for $10.25 million. 

“The purchaser was a major listed Australian company that will occupy the building and the vendor was global glass manufacturer Jeld-Wen Australia,” he said.

 Frail said the transaction underscores the strong demand for existing assets with substantial land holdings, fuelled by the expensive industrial land prices in the Canberra region and the ongoing rise in construction costs.

“The property presented an opportunity for investors and businesses looking for a rare, ready-to-occupy warehouse just across the ACT/NSW border,” he said.

Set on an expansive 11,837 sqm block, 67 Kendall Avenue features two warehouses, office space, and a showroom, offering unparalleled flexibility and functionality to suit a range of business needs. 

The property’s strategic design includes multiple entry points, enabling convenient drive-around access for b-double trucks from Kendall Avenue, with an additional driveway off Bedford Street.

The property offered significant advantages for businesses. Serving as the main retail and business hub for the Queanbeyan region it caters to approximately 61,000 residents, with a projected increase to 80,000 by 2036. 

The property’s proximity to the Monaro/Hume Highway ensures excellent connectivity to Sydney and Southern NSW, making it an ideal choice for businesses seeking efficient distribution and access to major markets.