Propertylink recently completed the leasing of 495 Victoria Street in Sydney’s Wetherill Park to Yamaha and Auspods, demonstrating our ability to drive value through the successful management of leasing risk.
The property was acquired vacant for $19 million as part of the growth of the Propertylink Australian Industrial Partnership II. Applying our active approach to asset management, we undertook a number of upgrades to the 14,081 sqm building including splitting the existing tenancy to attract quality occupiers and drive strong rental income.
Now fully occupied with a 5 year WALE, this property is a great addition to PAIP II, delivering a 21% uplift in asset value during the first year of ownership.
The Propertylink team was supported by CBRE leasing agents Elijah Shakir and Jason Edge.