A warehouse in Ingleburn has sold under the hammer for $11 million, achieving a suburb record rate for a freestanding building within the suburb.
With a site size of 5,168sqm and building size of 2,643sqm, the property at 16 Heald Road attracted six active bidders at the competitive auction, as it sold for $4,162 per sqm.
The Colliers team of Adrian Balderston and John Tsoutsa sold the property on behalf of the vendor, EA1 Pty Limited & EH1 Pty Ltd. The purchaser is Eilbeck Management Services Pty Ltd.
“It was a really compelling auction with both investors and owner occupiers competing. The market has reacted well and is still strong in the face of the federal election and rising interest rates,” Mr Balderston said.
“We are seeing high demand for facilities like this one, which have manufacturing combined with high power and a yard. The demand and necessity for industrial property in NSW is still outweighing external macroeconomic factors affecting other property markets,” Mr Tsoutsa added.
Located on a corner with wide driveways to both streets, the property has three extra wide sliding doors, two bays with crane rails for the included 10 tonne and five tonne cranes and max internal clearance of 10.7 meters. There is also a well-presented office and amenities across two levels, as well as high power to the site.
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