Castle Hill. $24.5 million for 43,000sqm site

Australia’s largest automotive retailer, the West Perth-based Automotive Holdings Group, has bought a 43,000-square-metre property, at the intersection of Victoria Avenue and Windsor Road, Castle Hill, for $24.5 million, to be developed into a multiple dealership site, similar to those Western Australia. The site currently comprises 83 factory units, providing AHG with an immediate steady rental stream through short-term tenancies. "The acquisition also represents an important addition to our NSW operations, complementing our existing stable of 17 dealership franchise sites located at Blacktown, Sutherland, Liverpool and Lansvale," said AHG MD, Bronte Howson.