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News release


Building Services Company Plumtwo snaps up Chatswood Industrial space for $3.5 million

Chatswood and Artarmon are go-to areas for North Shore owner-occupiers

​SYDNEY, 7 December, 2013 – A freestanding property within the Industrial precinct of Chatswood in Sydney’s North Shore has sold to building services company Plumtwo Pty Ltd for a competitive price of $3.5 million.

The property, located at 1 McCabe Place, comprises a basement car park, ground-floor warehouse, production and first-floor office space. The site consists of a total Gross Lettable Area of approximately 2,411 square metres.

The selling agents were Jones Lang LaSalle’s Director of Industrial Ben Byford and Executive, Industrial & Office Parks, Francesco Princi.

Mr Byford said buildings such as this are scarce, driving competition from local buyers, with strata properties dominating the suburban Industrial precincts. According to Mr Byford, a high level of competition is especially typical with the rarity of this type of North Shore freehold building. 

“We received high interest from local buyers interested in being owner-occupiers, as there’s limited stock of this kind. Many business owners that live on the North Shore, and have run businesses from the area for a long period of time, are creating demand for this type of asset.

“Chatswood has the luxury of having residential, commercial and retail facilities all in the one area; the location is a draw card for staff. Both Chatswood and Artarmon are the go-to areas on the North Shore for Industrial owner-occupiers,” said Mr Byford.

Mr Princi said the property is a secure asset which has been offered to the market for the first time in 28 years. “The ground-floor production space and first-floor office accommodation is completely fitted out and self-contained and really excels, with the warehouse space having superb clear span and access. The property also benefits from the ample secure basement parking – it’s an attraction for owner occupiers in recruiting staff.

“The site sits amongst leafy parklands and is in close proximity to facilities including Fitness First Platinum health club and High Street eateries, minutes’ drive from Chatswood CBD and just 300m from public transport on Eastern Valley Way – making it a valuable asset within its market,” concluded Mr Princi.