Sydney, Australia — The Lee family, founders of the well-known Australian electronics retailer Bing Lee, has listed their flagship distribution center in Old Guildford for sale in a strategic move to capitalize on a thriving commercial property market.
The industrial and retail site at 702 Woodville Road is estimated to be worth $85 million. It spans over 27,600 square meters, including a 16,700-square-meter facility, and has been the heart of Bing Lee’s New South Wales operations since 2008. According to Real Commercial, the sale is structured as a sale and leaseback, enabling Bing Lee to continue operations under a long-term lease while unlocking capital from the asset.
This isn’t just another commercial transaction for the Lee family. Bing Lee’s story began in Fairfield in 1957, when founder Bing Lee shifted from fruit selling to electronics retail. Today, the company remains family-run and holds an estimated $720 million in net worth, illustrating decades of growth and smart investment.
Strategically located in a mixed-use corridor near tenants like Officeworks and Sonic HealthPlus, the property boasts high road exposure, with 40,000 vehicles passing daily. Colliers International, which is managing the sale, notes that secure leasebacks with respected tenants like Bing Lee are rare and highly attractive to investors.
Despite the sale, Bing Lee’s operations will remain uninterrupted, a key feature of the leaseback arrangement. This ensures continuity for staff and customers while freeing up funds for future business expansion — a model increasingly embraced by family-owned firms looking to balance legacy with financial agility.
The deal signals confidence in Australia’s commercial real estate outlook, particularly for high-exposure industrial-retail assets. As market demand remains strong, the Lee family’s decision underscores strategic foresight, blending heritage preservation with forward-looking asset management.
