In further growth activity for Kennards Self Storage, the private family company has acquired an 8,000 square metre site in the Sydney suburb of Macquarie Park.
The property has been head office and central warehouse for Brother International (Aust) Pty Ltd’s operation for over twenty-five years. Having outgrown the property, Brother entered into an extensive real estate campaign which brought Kennards and Brother together to complete a deal.
The price agreed was $6 million. The Agent was Trevor Harlow of Chestertons. The property is vacant.
After many years of looking to fill this hole in the Sydney market, Kennards have finally been able to secure a property to fill this market gap.
“We have noticed that tenant shift to A-grade buildings in Macquarie Park has left behind a few suitable re-development sites” says Sam Kennard Managing Director of Kennards Self Storage. “This is good for us, but expect the window to close soon.”
Macquarie Park is strong and desirable commercial location – home to many Australasian head offices for multi-national corporations. It has undergone a transformation from simple warehouse and distribution to hi tech, research and development, and office area.
In addition, thousands of apartments are in planning to be built in the next few years. Meriton recently acquired a nearby site for $24 million.
Macquarie University is located within 1km of the property and the Macquarie Shopping Centre is even closer.
The 8,000 metre property has 3000 metres of building, including 2 high clearance warehouses. Kennards plan to recycle and re-use the buildings to construct its latest generation storage centre. When complete, the storage centre will have over 800 spaces.
As always with each new Kennards development, the latest ideas and innovations to showcase the best of the Brand and service features.
“We will ensure the Macquarie Park centre will be a showpiece and flagship for the company” Kennard explains.
Kennards Self Storage already have 36 locations in the Sydney metropolitan area and represent about 50% of the available storage supply.
“We strongly believe in the future of Sydney. It is an attraction for people, will grow and densities will further increase which makes our service increasingly desirable” Kennard says.
About Kennards Self Storage
Sam Kennard is Managing Director of Kennards Self Storage. Kennards had grown to 70 locations across Australia and New Zealand, with over 44 hectares of space available. The Company remains a private, family-owned and operated business.
On June 3rd this year the business and family lost its founder – Neville Kennard, to a battle with cancer.
Not to be confused – though sharing family heritage, Kennards Self Storage is now completely separate and independent from Kennards Hire.