Colliers’ transaction highlights competitive capital value rate supported by future development potential
Colliers is proud to announce the successful sale of 325–343 Princes Highway & 86–94 Hattersley Street, Banksia, acquired by an owner occupier for $14,750,000, following a highly competitive Expressions of Interest (EOI) campaign.
The sale reflects a capital value rate of $8,591/sqm and a GFA rate of $1,690/sqm, highlighting the property’s strong fundamentals and future development potential. The campaign, which generated over 200 enquiries, was led by Trent Gallagher, Edward McFarland, and Tom Appleby, who leveraged Colliers’ national reach and local expertise to deliver a swift and successful outcome.
Colliers National Director, Property Sales & Leasing | Industrial & Logistics Trent Gallagher, commented “This result shows the strength of the asset and the depth of the market. We were able to generate seven compelling offers through a targeted campaign, demonstrating the continued demand for well-located, flexible mixed-use sites like this offering.”
Colliers National Director, Property Sales & Leasing | Industrial & Logistics Edward McFarland added, “Selling a site of this scale and complexity in less than two months speaks volumes about our team’s ability to connect the right buyers with the right opportunities.”
Colliers National Director, Head of Sydney North | Investment Services Tom Appleby concluded, “This landmark transaction underscores Colliers’ market-leading capability in executing complex sales campaigns with speed and precision. The property, a 3,490 sqm MU1 Mixed Use zoned site, attracted strong interest from developers, owner occupiers, and high-net-worth investors, ultimately being acquired by a local owner occupier.”
Strategically positioned opposite Banksia Train Station, the site features 1,717 sqm of improvements including a showroom, workshop, and spare parts facility currently leased to Peter Warren Automotive. The asset generates a net passing income of $656,812 p.a., with significant upside potential supported by a 2.5:1 FSR and 28m height limit, allowing for a potential GFA of 8,726 sqm (STCA).
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