Snapshot of Rutherford’s Industrial Market
With the official cash rate set to increase for the 11th time, the supply of available industrial assets for sale or lease in the Maitland LGA is limited. Nevertheless, there is some activity in the land sales and development sector, as the last land release around Anambah has broken ground. Owner-operator lots are mostly occupied, while investment/development stock is in various stages of construction.
Over the next 12 months, a variety of industrial properties will become available, ranging from 44 sqm boutique units to 150-300 sqm professional units and warehouses spanning 500-3000 sqm. Recent transactions indicate land sales between $350/sqm and $500/sqm, while completed projects have sold between $4,700/sqm for smaller units and $1890/sqm for larger warehouses.
Based on our analysis of investment transactions, the average return on investment remains at 7%. However, A-grade products have sold at lower yields, ranging from 5-6% over the past year.
Recent Rutherford industrial sales
These recent sales demonstrate the movement in the Rutherford industrial market. Yields continue to be consistent, demonstrating that there are still opportunities available to be found.
Land sales
|
Address |
Size | Sale Date | Price | Rate/sqm |
| 10 Mustang Drive, Rutherford | 1.43Ha* | July 2022 | $5,120,000 | $358/sqm |
| 6 Sabre close, Rutherford | 5,412sqm* | August 2022 | $2,062,500 | $381.09/sqm |
| 42 Spitfire Place, Rutherford | 2,519sqm* | February 2023 | $1,056,000 | $419/sqm |
| 49 Spitfire Place, Rutherford | 1,897sqm* | July 2022 | $825,000 | $434.90/sqm |
Units/warehouse
|
Address |
Size | Sale Date | Price | Rate/sqm |
| 1/40 Bradmill Av, Rutherford | 309sqm* | Jan 2022 | $690,000 | $3,569/sqm |
| Unit 1, 37 Shipley Drive, Rutherford | 160sqm* | April 2022 | $571,000 | $2,233/sqm |
| 3B/387 New England Highway, Rutherford | 559sqm* | February 2022 | $1,300,000 | $2,325/sqm |
| 11 Bradmill Avenue, Rutherford | 1,455sqm* | July 2022 | $2,750,000 | $1,890/sqm |
Investment sales
|
Address |
Size | Sale Date | Rent | Price + GST | Yield |
| 59 racecourse Road, Rutherford | 2,564sqm* | December 2022 | $220,000 | $3,600,000 | 6% |
| 31 Hinkler Avenue, Rutherford | 200sqm | Feb 2023 | $100,000 | $1,585,000 | 6% |
*approximately
If you have any questions or need advice, please don't hesitate to contact our office.
