$9 Million for Industrial Investment Property

Property investors and developers, Livingstone Group, have paid $9 million plus GST for one of the largest industrial properties on the Central Coast at 2 Hereford Street, Berkeley Vale with vacant possession.
The property, formerly owned by US corporation CommScope is on a 2.1498 hectares level site and includes corporate office, warehouse and manufacturing buildings and extensive car parking facilities for 198 cars. The property is serviced by a 2,000amp power supply, ESFR sprinkler system and has racking for approximately 1,400 pallets.
Built about 1985 and extended over a number of years to a very high standard since, the complex comprises:
• 2 level office building of 3,111 sqm,
• 5 manufacturing and assembly buildings with a total area of 3,141 sqm
• 1,061 sqm warehouse
• 1,433 sqm warehouse
• Extensive hardstand areas
Zoning is IN1 General Industrial
The property was offered for sale and lease by Expressions of Interest through Ty Blanch from L J Hooker Commercial Central Coast.
Mr Blanch said that while there had been a fair amount of enquiry for the property there were only a few genuine buyers with the capacity to buy it.