Coveted warehouse in high performing South-West Sydney market sells for a premium12 December 2023
Outbidding 12 offers, a private investor purchased a South-West Sydney industrial warehouse for around $20 million, reaping the benefits of a market boasting a rental growth rate of 51.7% over the 12 months ending September 2023, which is around double the national average.
Occupying a significant site of 12,500 square metres, which comes with the opportunity to value-add or completely redevelop, the prized industrial acquisition is well-poised to take advantage of South-West Sydney rents, which reached an average of $239/sqm in September 2023, 88% higher than September 2021.
With a total area of around 5,400 square metres across three buildings, the industrial warehouse with 90 metres frontage to Williamson Road in Ingleburn, also benefits from great access to the M5 Motorway and just eight kilometres to the M5/M7 Interchange.
The sale was negotiated by Colliers Adrian Balderston and Manager John Tsoutsa, in conjunction with JLL’s Bella Cass and Stephen Chronopoulos, on behalf of Magdilla Pty Ltd.
“This deal demonstrates the continued strength of the industrial market amid interest rate fluctuations, especially the South-West Sydney market, where there is an undersupply of stock for both owner occupiers and investors.” Mr. Balderston said.
“Existing facilities suitable for both warehousing and manufacturing, with high power and yard are always in demand in Sydney, and this asset provides a power supply of 700 amps, six overhead gantry cranes and high internal clearance.” Mr. Tsoutsa added.
The prized Ingleburn industrial asset was sold on 1 December 2023, following a competitive Expressions of Interest campaign, which ran from early October until early November.