A PRIME piece of industrial real estate is up for sale for the first time in more than 50 years.
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Not only is it one of the last significant land holdings up for grabs in Taminda, it comes with a wealth of local history.
The Dampier St Tamworth Rural site has been home to the Tamworth Farmers Co-Operative Society since 1965, while the co-op ceased to exist years ago, its sale will mark a new chapter in local history.
Co-agents charged with the freehold sale, Ben Green (Yield Property) and Gavin Knee (Burke and Smyth), said there has been a great deal of interest in the site.
“We’ve seen some good interest from both regional and interstate,” Mr Knee said.
“We’ve probably got inquiry from three or four states, as well as city-based investors.”
To the agents, it’s a sign of demand for industrial real estate in the region.
“Now that the showground is sold... this is probably the largest site left in Taminda,” Mr Green said.
“It’s opening up west of Tamworth now in Glen Artney and out towards the airport, so realistically this central part of Taminda, there’s no real vacant land of any scale.”
But the problem of industrial real estate drying up is not unique to Tamworth, or the state, according to Mr Knee.
“I think, nationally, there is a lack of supply of good quality industrial asset, generally in the regional areas and the yields have tightened up in Sydney so they’re looking further afield,” he said.
“We’ve seen a lot of outside investment come to the CBD and the larger properties in and around the CBD.
“I think it’s getting repeated in Taminda.
“Although Taminda is largely owner-occupied, so there is not a lot of opportunity to bring in investment.
“I think fresh money is always a real positive for the towns.”
The Tamworth co-op became a private company in 2008 and the business was sold to Pursehouse Rural in 2016.
The expressions of interest period for the sale of site closes on May 31