Bob Ell’s Leda scoops big industrial property in Sydney
Billionaire Bob Ell has snapped up the largest industrial parcel in the northern Sydney suburb of Brookvale for $19.6m
Billionaire Bob Ell has snapped up the largest industrial parcel in the northern Sydney suburb of Brookvale for $19.6m as he looks to exploit rising demand for property.
The tycoon, who is executive chairman of the Leda Holdings empire he founded, is bullish about the prospects of Sydney’s industrial market and will redevelop the lots for industrial use.
Mr Ell, who fully owns the private company, has been undertaking major deals in recent months, including selling the Kings Forest estate in northern NSW to listed company Stockland for more than $620m. But he is just as well known for his industrial trading, and has picked a number of cycles while running the company.
The deal 9,762sq m property at 22 Clearview Place, Brookvale, was bought from R J King Investments Pty Limited, according to records, and was introduced by Shore Real Estate director Martin O’Brien. Mr Ell said the purchase added another key location to Leda’s burgeoning portfolio of industrial and commercial projects in Sydney.
“It is very rare for a land holding of this size to come on the market, especially so close to Warringah Mall and with easy access to Pittwater Road,” he said. “We intend to lodge a development application to subdivide the site into two lots. However, the site currently yields annual income of almost $1m,” he said.
Billionaire Bob Ell has snapped up a huge industrial site in Sydney’s north for further expansion.
The acquisition complements Leda’s active projects that are under construction. These include the nearby 2 Cross Street in Brookvale. That $50m project comprises high-end showroom warehouse units positioned opposite the main entry to the Westfield Warringah Mall.
Leda is also commencing construction on Rodborough Road, one of Frenchs Forest’s key commercial corridors. That $80m development will deliver premium business units spanning more than 8,000sq m of saleable area. The site, picked up for about $15m and is scheduled for completion in 2027.
It has been a milestone year for the tycoon, marked by the landmark sale of Kings Forest, where Stockland will develop 4500 lots. Leda is now seeking federal government approval for almost 5000 lots at its Coomera Woods estate, north of Surfers Paradise, and council approval for 1477 homes in the Ipswich region.
Leda is also in the final stages of planning for its estate at Cobaki, sitting next to the Gold Coast Airport. The project will comprise more than 5,500 dwellings, housing more 15,000 residents when finished.
Leda is a family-led company. Mr Ell oversees the company’s strategic direction, with his wife Bridget Ell, who serves as a director. Succession planning for the next generation is already in motion, with two of their four children completing a Bachelor of Property Economics at the Queensland University of Technology.
Their younger siblings are still at school, and share ambitions to follow in their parents’ footsteps and contribute to the family’s growing property empire.
