Four industrial sites at 17 - 23 Carlotta Street, Artarmon have hit the market for the first time in 45 years. The properties are owned by Panoyan Investments Pty Ltd, a private company owned by Benjamin and Antranik Panoyan of Roseville Chase and are being marketed by CBRE and Sutton Anderson - Crows Nest.
The properties are comprised of three single-storey warehouse buildings, a two-storey office building and two 2-storey warehouse/workshop buildings across a 3,329 sqm site. The properties are fully tenanted with tenants such as Budget Car & Truck Rental, National Windscreens, North Side Auto Works and North Prestige Auto Services. They are being advertised with a net income of $835,073 p.a.
In the CBRE press release, Brad Sutton of Sutton Andersons pointed out that “Sites of this scale are rare, this site is the largest of its kind to come to market in Artarmon for over two years. With a finite amount of industrial zoned land on the North Shore this is an irreplaceable purchase opportunity.”
Three of the four properties have not been offered for sale since 1978. Two of the properties traded between the owners and their family company for a total of $1.2 million in 1992.