THE former Downer EDI site at Kelso has been sold to a Sydney-based privately owned company with strong links to Bathurst.
David Nicoll, manager of Elders Nicoll and Ireland, confirmed the sale of the 96,606- square-metre property for an undisclosed sum, saying the buyer saw it as an exciting property investment opportunity.
While Mr Nicoll was unable to disclose the sale price, he said replacement value of the property was in the vicinity of $30 to $40 million.
“My client saw an opportunity and an exciting prospect for the community. He is proactive and passionate about property investment in Bathurst and was attracted to the property because of possible employment opportunities,” he said.
Mr Nicoll described the property as “very unique”.
“It’s zoned 4A heavy industrial property and with a land size of 96,606 square metres, it’s a significant land holding,” he said.
He said many people did not know a lot about the property because of its private location.
“It was originally Clyde Engineering. Clyde came here in the 1970s as part of a decentralisation program which was a great initiative of Bathurst City Council at the time,” he said.
Mr Nicoll said the main building was originally built as a locomotive shop, with rail lines run through the building.
“There are also two 55 tonne overhead cranes in the workshop and a spray booth 300 square metres in size,” he said.
“It’s certainly the biggest spray booth this side of the Blue Mountains.
“The option is there for painting buses or semi trailers, providing business opportunities not previously available here.”
Mr Nicoll said the property also has huge wash bays and storage sheds, which are already in use by a short-term tenant.
And not only is there huge infrastructure, there is also a large amount of surplus land.
Mr Nicoll said he is currently devising a master plan for the entire precinct to include the further development of this land.
Incredibly the site wasn’t even for sale, but Mr Nicoll said he was able to work with the owners and the buyers to seal the deal.
“I handle the majority of the larger transactions and development work,” he said.
“People seek me out because of my experience and the fact I can guarantee confidentiality.
“I made a few phone calls and was able to put the property in front of the right people.”