Border Industrial site and home on Wagga Road sells for more than $3.5 million
STORY ACCREDITATION: The Border Mail – November 10, 2023 | WRITER: Beau Greenway
A large industrial property close to the Hume Highway in Albury, boasting an established business and luxury residence, has sold shortly after auction for more than $3.5 million.
The almost 58,000-square metre site on Wagga Road in Springdale Heights was passed in at $3.5 million on Friday, November 10, after it attracted one bid, but a sale was agreed upon shortly after.
Auctioneer Andrew Dixon, of Dixon Commercial Real Estate, said the buyer was an Albury investor who saw huge potential in the site.
The vendor was JKR Group, who negotiated a new three-year lease in April 2023 with freight company AG Bulktrans.
A 58,000-square metre industrial site with residence on Wagga Road in Springdale Heights was passed in at auction and sold afterwards for more than $3.5 million. Picture supplied
It utilises 800 square metres of purpose-built workshop with an office and mezzanine, which includes drive-around access.
Annual rental income from the business, which leases 18,000 square metres of the site, is more than $130,000.
“It has big frontage to Wagga Road and an excellent tenant who is very committed to staying,” Mr Dixon said.
“It’s an outstanding industrial site in an excellent position close to the Lavington CBD, close to the interchange on the freeway, Thurgoona Drive and Kaitlers Road, as well as the Nexus industrial estate.
Dixon Commercial Real Estate auctioneer Andrew Dixon was able to finalise a deal for the property. Picture by Tara Trewhella
“It provides massive flexibility for the buyer to either live in the residence, create a subdivision, renew a lease with the existing tenant, or provide a further subdivision of industrial land at a time in the marketplace where there’s virtually no industrial land for sale.”
The four-bedroom residence on the opposite side of the property boasts two bathrooms, two living areas, an outdoor area, established gardens, 125-metre bore, lake and a 10-kilowatt solar power system.