Warehouse and self-storage business sell for $15.7 million

A 5,595sqm ACT property and a successful storage business have sold for a total of $15.7 million.

Located at 4-6 Mceacharn Place, Mitchell, the property comprises a 2,800sqm warehouse building providing 483 secure self storage units over two levels inside the main warehouse building, along with 29 external fully enclosed lock up facilities.

The property and the self storage business The Lock Up, were brought to market by Ray White Commercial Canberra agents Frank Giorgi and Mark Thompson on behalf of a local client who had owned the property for 25 years.

Mr Giorgi said the property attracted plenty of interest with 61 enquiries and six serious expressions of interest throughout the campaign. The property and business were eventually snapped up by a national storage company.

“The top three offers came from interstate buyers and national self storage operators, all of whom inspected the property quite early in the campaign,” he said.

“The property and business attracted so much interest due to the built-to-last nature of the warehouse and the fact the self storage business was trading at 100 per cent capacity.

“This was quite a rare sale with nothing similar selling for around a decade in the ACT region.”

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