An industrial warehouse unit in a newly-completed estate has been leased in Mount Kuring-Gai, New South Wales.

The lease of Unit 15 at 22 Beaumont Rd, Mount Kuring-Gai, situated in the newly-completed third and final stage of Gateway Estate, was negotiated by agents of Industrial Parks of Australia and Camelle Real Estate.

Comprising of 1566 sqm industrial space, the unit was leased to Baden P Morris Pty Ltd at a rate of $190,400 per annum net for five years with two five-year options.

The third and final stage of the $60 million Gateway Estate comprises of 15 warehouse and office units of between 500 sqm and 6000 sqm.

Industrial Parks of Australia co-director, Phillip Shaw, said that the development provides a choice of modern, larger industrial spaces for upper north shore businesses which are otherwise limited in other industrial areas.

Stages one and two of the Gateway Estate are understood to be 90% occupied, while stage three is 50% committed.

Australian cookie franchise, Cookieman, and a number of major importers are among those occupying the complex.

by Mark Bristow