Information Memorandum Silverwater 12 Wiblen

I N F O R M AT I O N M E M O R A N D U M

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UNRIVALLED, MARKET LEADING REAL ESTATE SERVICES

12-14 WILBLEN STREET SILVERWATER

STRATEGIC, ESSENTIAL INFRASTRUCTURE PROPERTY IN THE HEART OF THE SILVERWATER INDUSTRIAL AREA

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CONTENTS

KEY HIGHLIGHTS 05 WELCOME 07 EXECUTIVE SUMMARY 08 LOCATION 10 BUILDING OVERVIEW 15 SITE OVERVIEW 17 PLANNING SUMMARY 18 LEASING SYNOPSIS 20 FINANCIAL SUMMARY 21 SALE PROCESS 23 DISCLAIMER 24

SILVERWATER IS HOME TO MANY MEDIUM AND LARGE SCALE INDUSTRIAL COMPANIES .

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12-14 WILBLEN STREET SILVERWATER

KEY HIGHLIGHTS

• Fully leased to an established tenant who has not requested any rental relief during the Covid 19 period

• The long term tenant leases f ive linked properties in this location to conduct this specialised waste management business

• Net lease with the tenant paying 100% of the outgoings

• Only clinical waste incinerator in Sydney • Large amount of capital expenditure by the tenant to set up and maintain the operation of this business

• Excellent truck access • Long residual lease term • Annual rent increases with a ratchet protected market review at the exercise of an option

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INFORMATION MEMORANDUM

• Strategic, essential inf rastructure property in the heart of the Silverwater Industrial Area

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WELCOME

MMJ Real Estate are delighted to present 12-14 Wilblen Street, Silverwater, NSW Australia to the market which is being offered for sale by by public auction on the 25th March 2021 at 1 Margaret Street, Sydney.

RICHARD GARLAND MMJ Real Estate Sydney 0412 630 530 richard.garland@mmj.com.au

INFORMATION MEMORANDUM

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EXECUTIVE SUMMARY

PROPERTY ADDRESS 12-14 Wiblen Street, Silverwater NSW 2128

ZONING IN1 – General Industrial (Source – NSW Planning Portal)

TITLE Lots 84 & 85 DP 6424

CAR PARKING 4 under croft spaces at the front

SITE AREA

BUILDING AREA

1,166sqm (Source – NSW Government Land Valuation)

910sqm (Source – Marketing Drawing)

INTEREST FOR SALE 100% Freehold

TENANT Cleanaway Daniels Pty Ltd

HEIGHT LIMIT Not Applicable (Source – NSW Planning Portal)

FLOOR SPACE RATIO 1:1 (Source – NSW Planning Portal)

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$142,969 (approx.)

SALES PROCESS Public Auction Thursday 25th March 2021 at 10.30am 1 Margaret Street, Sydney

TO ARRANGE AN INSPECTION, PLEASE CONTACT THE SELLING AGENT.

INFORMATION MEMORANDUM

CURRENT NET ANNUAL RENT

WIBLEN STREET HAS EASY ACCESS ONTO SILVERWATER ROAD. THE PREDOMINANT OCCUPANT OF PROPERTIES ALONG THIS STREET IS CLEANAWAY.

MOBIL FUEL TERMINAL

L O C AT I O N // S I LV E R WAT E R

SILVERWATER ROAD

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INFORMATION MEMORANDUM

SUBJECT PROPERTY 12-14 Wilblen Street Silverwater

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T H E O N LY CLINICAL WASTE INCINERATOR IN GREATER SYDNEY. Silverwater is a suburb in the Inner Western area of Sydney, approximately f ifteen kilometres west of the Sydney CBD, on the southern bank of the Parramatta River. It is within the local government area of the City of Parramatta.

Silverwater is home to many medium and large scale industrial companies, some of which have been operating in the area for over 50 years due to its central Sydney location and excellent transport links.

LOCATION

The suburb was initially developed as a medium/heavy industrial area, however, parts of it have now been redeveloped into a premier light industrial/ commercial district.

The M4 Western Motorway runs along the southern border of Silverwater with entry and exit ramps to Silverwater Road. Silverwater Bridge crosses the Parramatta River north into Ermington and Rydalmere.

Wiblen Street has easy access onto Silverwater Road. The predominant occupant of properties along this street is Cleanaway.

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INFORMATION MEMORANDUM

Companies who choose to conduct business in Silverwater include, Exxon Mobil (Fuel Terminal), Blu Glass Limited (Semiconductor technology), Vittoria Food & Beverage, Brooker Engineering, Han Yang Import & Export, Standard Foods of Australia, Vegmasters, Sydney Packaging, PiTek (fluid transfer products), RBM Plastic Extrusions, Tradelink Plumbing, TLE Electrical, Allcott Hire, Metromix Concrete, Medilink (medical software developer) and Cleanaway Waste Management Limited.

BUILDING OVERVIEW

The improvements on 12-14 Wiblen Street, Silverwater provide a functional, industrial warehouse with f irst floor off ices and amenities.

The warehouse has an area of approximately 790sqm and the f irst floor area is approximately 120sqm.

The warehouse contains high capital cost tenant owned equipment, including two heavy duty specialised medical and industrial waste incinerators, plus a product destruction shredder.

Access between the floors is by one set of internal stairs. Tenant parking is provided via entry f rom Wiblen Street for four under croft spaces.

FLOORS Ground Floor – High Stress Concrete.

First Floor - Concrete FLOOR COVERINGS First Floor – ceramic tiles and linoleum WALLS External - Full height masonry with roller shutter door access. Part open sided / translucent panels at rear elevation.

Internal - Brick, masonry & gyprock clad timber f ramed walls on the First Floor WINDOWS Aluminium f ramed and glazed CEILINGS First Floor - Gyprock and Masonite.

Warehouse – exposed roof ing ROOF A multi pitched design covered with metal decking & translucent sheeting.

LIGHTING Suspended LED down lights and fluorescent tubes WAREHOUSE A two bay, approximately 6m high, functional warehouse OFFICES Five off ices are located on the First Floor AMENITIES A full bathroom and a separate toilet are located on the First Floor KITCHEN A kitchenette is located on the First Floorthe Ground and First Floors

44.7

44.7

3.6

1.1

2.9

LOADING DOCK

3.0

STORE

1.8

ROLLER

5.6

CLEARANCE 4.9m

DING OCK

1.1

OFFICE

2.7 14.6

4.9

OFFICE

1.9

4.0

OFFICE

4.0

15.0

26.2

MEALS

2.9

2.9

3.0

1.9

OFFICE

4.6

WAREHOUSE OFFICE

4.9

WAREHOUSE

5.0

2.7 7.8

DING OCK

ROLLER

.2

7.4

CLEARANCE 4.9m

5.6

FIRST FLOOR LOADING DOCK 7.3

3.8

7.2

5.1

32.5

0

1

3.6

1.1

Date:

26/01/2021

Rev:

1

STORE Scale: 1:150 at A3

15

OFFICE

2.9

OFFICE

MEALS

OFFICE

OFFICE

1.9

ELECTRICITY The property has three-phase power installed OFFICE

5.0

2.7 7.8

FIRST FLOOR

4.6

WAREHOUSE

GAS A heavy usage gas supply is available throughout the property

0

Disclaimer: This plan has b parties should undertake t

2.9

1.9

3.0

12-14 Wiblin Street SILVERWATER, NSW 2128

FIRE SERVICES Hose reel points, hydrants, and hand help f ire extinguishers are located throughout the building

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Disclaimer: This plan has been prepared for marketing purposes only. Interested parties should undertake their own enquiries as to the accuracy of the information.

MARKETING Scale: 1:150 at A3 DRAWING

AIR CONDITIONING Package units are located on the First Floor

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INFORMATION MEMORANDUM

Rev:

6

14.6

26/01/2021

4

1.1

Date:

2

5.1

1.8

GROUND FLOOR

MARKETING DRAWING

3.8

7.2

32.5

790 m2 120 m2 910 m2

12-14 Wiblin Street Plan Prepared For: SILVERWATER, NSW 2128

7.3

7.4

4.0

Information Schedule Ground Floor First Floor Total Area

6.2

2.7

GROUND FLOOR

4.9

6.6

LEASED BY

ST WI

D

BL

EN

LEASED BY

LEASED BY

STRE Y B ER

ET

ROAD

RE

ET

ATER SILVERW

LEASED BY

SITE OVERVIEW

TITLE PARTICULARS

Lot 84 & 85 in DP 6424

SITE AREA 1,166sqm (Source – Six Maps) FRONTAGE Wiblen Street - 26.82m Approx.

(Source – NSW Land Valuation) UNIMPROVED LAND VALUE at 1/7/2019 $1,410,000

All dimensions and areas are approximate.

INFORMATION MEMORANDUM

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PLANNING SUMMARY

12-14 WILBLEN STREET SILVERWATER

ZONING

IN1 – General Industrial

PLANNING INSTRUMENT Auburn Local Environmental Plan 2010 FSR 1:1

HEIGHT LIMIT Not Applicable

PERMITTED DEVELOPMENT (with consent) • • • • • • • • • • • • • • • • • •

Building identif ication signs Business identif ication signs Depots Freight transport facilities Garden centres General industries Hardware and building supplies Industrial training facilities Kiosks Light industries Markets Neighbourhood shops Oyster aquaculture Places of public worship Restaurants or cafes Roads Tank-based aquaculture Warehouse or distribution centres

ZONING

OBJECTIVES OF THE ZONE

ENVIRONMENTAL PROTECTION LICENCE

•

The tenant has been a long-term holder of Environmental Protection Licence number 3245, which is essential for the operation of their business in the properties known as 2 Wiblen Street, 1214 Wiblen Street and 16 Wiblen Street, Silverwater, the scheduled activities permitted under this Licence are “Waste Disposal (thermal treatment), Waste Processing (non-thermal treatment) and Waste Storage.”

• • • •

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INFORMATION MEMORANDUM

•

To provide a wide range of industrial and warehouse land uses.

To encourage employment opportunities.

To minimise any adverse effect of industry on other land uses.

To support and protect industrial land for industrial uses.

To encourage economic growth of the locality.

To minimise adverse effects on the natural environment.

Source NSW Planning Portal

F U L LY L E A S E D TO AN ESTABLISHED TENANT WHO DID NOT REQUEST ANY RENTAL RELIEF DURING THE COVID 19 PERIOD

Development Consent to use 12-14 Wiblen Street, Silverwater as a clinical waste incinerator was granted in 1989. Various private sector and ASX listed companies leased the property and operated the facility between 1989 and 2004. A ten year lease with three f ive year options was granted to Stericorp Limited on 1 August 2004. Daniels Health took control of Stericorp Limited and in 2016 Toxf ree purchased Daniels Health. In 2017 Cleanaway took over Toxf ree.

The original terms and conditions outlined in the 2004 lease to Stericorp Limited are still current, except for changes which were made via a Variation of Lease which was signed be the Lessee and Lessor on 5 November 2020. A summary of the updated lease terms follows:

L E A S E S Y N O P S I S //

LESSEE Cleanaway Daniels Pty Ltd (a fully owned subsidiary of Cleanaway Waste Management Limited)

OPTION PERIOD 2 X 5 Years

CURRENT RENTAL $142,969.44 + GST

OUTGOINGS The lease offers an investor many benef its, including the tenant paying 100% of charges for Council Rates, Water Rates, Land Tax, building insurance, water, gas, electricity and telephone usage, cleaning, pest control, repairs & maintenance to the Air Conditioning system, Public Liability Insurance for at least $10m, plate glass insurance plus painting of the premises as often as the Lessor requires

LEASE EXPIRY 31 July 2024

RENT REVIEWS Annual CPI increase capped at 2%, plus a ratcheted market review if either Option is exercised

WATER RATES – FY21

$4,354.72 (Supplied by Vendor)

LAND TAX - FY21

$10,580 (Estimate based on LV of $1,410,000)

ESTIMATED TOTAL STATUTORY OUTGOINGS 2021

$19,537.78

RENTAL INCOME AUG 2020 - JULY 2021

$142,969.44

LESS OUTGOINGS

nil (100% recovered from the tenant)

ESTIMATED NET ANNUAL RENT

$142,969.44

F I N A N C I A L S U M M A R Y //

$4,603.06 (Supplied by Vendor)

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INFORMATION MEMORANDUM

COUNCIL RATES – FY21

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SALE PROCESS A 100% f reehold interest in 1214 Wiblen Street, Silverwater is being for offered for sale by Public Auction at 10:30am (AEST) on the 25th March 2021.

AUCTION VENUE The auction will be conducted

by Cooley Auctions at Level 5, 1 Margaret St, Sydney NSW 2000 INSPECTIONS All inspections by potential purchasers and/or their consultants are to be arranged by prior appointment with the exclusive selling agent

CHANGES TO THE PROCESS The Vendor reserves the right, in its sole discretion, to postpone or cancel the proposed sale of the 100% interest and to modify or add any terms and conditions to the proposed contract or other materials associated with the proposed sale which may be made available to a potential purchaser

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INFORMATION MEMORANDUM

ELECTRONIC DATA ROOM To assist with the assessment of the opportunity, a Dropbox link has been established to facilitate the provision of due diligence material. Please contact the exclusive agent to obtain access to the link

SELLING AGENTS

RICHARD GARLAND MMJ Real Estate Sydney 0412 630 530 richard.garland@mmj.com.au

DISCLAIMER

The agent(s) for themselves and the vendors of the property whose agent(s) they are, give notice that: (i) The particulars are set out as a general outline only for the guidance of purchasers and do not constitute an offer or contract. (ii) All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but purchasers should not rely on them as statements or presentations of fact, but must satisfy themselves by inspections or otherwise as to the correctness of each of them; and a draft Agreement for Sale of Land which is available for inspection at the offices of The agent(s). In the event of any inconsistency between this Information Memorandum and the Agreement for Sale of Land, the provisions of the Agreement for Sale of Land shall prevail.

(iii) No person in the employment of the agent(s) has any authority to make or give any representation or warranty whatsoever in relation to the property. (iv)The agent(s) and the vendor, each of their associates and every person involved in the preparation of this Information Memorandum expressly disclaim any liability on any grounds whatsoever for any direct or consequential loss or damage (whether foreseeable or not) which may result from any party acting on or relying upon all or any part of the information contained in the Information Memorandum notwithstanding any negligence, default or lack of care.