The largest redevelopment site in Seven Hills to be offered to market this year has sold for $17.88 million, following a competitive campaign that attracted multiple developers eager for opportunities in the tightly held precinct.
Boutique developer Sky Grand Holding – which is completing a business park in Auburn with units ranging from 849-1980sqm – secured the 1.14ha site at 120-122 Station Road.Â
The deal, which was facilitated by Parkside Commercial South Western Sydney’s Jon Orsborn and Matt Keeping, reflects a square metre land rate of $1,570psm.
Mr Orsborn said the response to the campaign underlined the lack of large-scale industrial listings between the M4 and M7 corridor over the last 12-18 months.
The site holds almost 150 metres of street frontage to Station Road with Sky Grand Holding planning to develop a business park on the site with circa 1000sqm units.
“Around Seven Hills, there have been very few new, high grade industrial developments delivered in recent years,” said Mr Orsborn.
“Everyone from suppliers of building materials and plumbing wholesalers to automotive and cabinetry specialists are seeking modern high clearance units with access to arterials and neighbouring businesses that complement their operations.
“Sky Grand Holding has just completed a quality product at Auburn and will deliver a similar high standard business park that will draw appeal from operators looking in the corridor between the M4 and M7.”
Mr Keeping said the site was in a prime position, with connectivity to Old Windsor Road, the M2 and M7 Motorways.
“The response from developers to the campaign signals the demand for sites of this scale in the region, which has been tightly held by long term owners over the last decade,” said Mr Keeping.
“The site’s expansive frontage will deliver significant visibility for end users of the future development and will be a welcome addition to the local industrial market.”
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