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The Australia Post portfolio includes 10-24 Ralph Street, Alexandria.<\/p>\n
Australia Post has emerged as one of the year\u2019s biggest sellers of real estate by putting two major Sydney facilities on the block in a move taking its sales tally to more than $700m.<\/p>\n
The government-owned enterprise<\/a> is selling off assets as it pumps funds into modernising its network to keep up with the demands of e-commerce users.<\/p>\n Australia Post is selling the Minchinbury Delivery Centre, along with the Alexandria Delivery and Business Centres, both of which are in Sydney, with expectations they will fetch more than $320m in total.<\/p>\n The facilities come with long leaseback conditions to ensure it keeps operating at both sites, also making them attractive to prospective buyers.<\/p>\n \u201cAs the eCommerce landscape rapidly evolves, Australia Post is reinvesting capital from the sale of carefully selected properties in order to upgrade parcel services for customers across Australia, including rural, regional, and population growth areas,\u201d an Australia Post spokeswoman said. Big projects include a parcel super hub to be built in Adelaide<\/a>.<\/p>\n The Sydney industrial and logistics properties in Alexandria and Minchinbury span about 13ha of combined land and will be chased by investors keen on property backed by Australia Post. Colliers agents Gavin Bishop, Trent Gallagher, Michael Crombie and Sean Thomson are handling the sale.<\/p>\n They comprise about 126,500sq m of industrial land and 52,295sq m of gross lettable area. They generate combined net commencing income of about $17.6m per annum with fixed annual rent reviews. \u201cThe depth of domestic and global capital targeting industrial real estate has continued to broaden with investors increasingly focused on the quality and durability of income alongside the underlying real estate,\u201d Mr Bishop said.<\/p>\n The 36,500sq m Alexandria site includes an 18,632sq m distribution facility and incorporating warehouse space, offices, awnings and extensive hardstand. That industrial market is tightly held, partly as land use shifts toward higher and better uses.<\/p>\n The Minchinbury property comprises an 90,000sq m holding with a 33,663sq m industrial facility including a large cross-dock warehouse, corporate office, workshop and associated improvements.<\/p>\n The surrounding precinct is home to major occupiers including Aldi, Bunnings, StarTrack and Woolworths alongside institutional players including Charter Hall, ESR, Irongate and Mirvac.<\/p>\n