An industrial property has sold in Sydney’s Eastern Creek for a rate creating to a suburb record.
The property at 2 Clay Place consists of a 2,111sq m freestanding warehouse surrounded by concrete hardstand on a 5,423sq m site, situated around 35 kilometres west of the Sydney CBD.
It is currently leased to PremiAir Pty Ltd, and equipment solutions hire specialist of diesel and electric air compressors, dryers and filtration, skid and trailer mounted silenced generators, lighting towers, traffic management equipment and sustainable event solutions.
The facility was purchased by a private investor for $13.325 million, equating to a rate of $6,312.17 per square metre.
The deal was negotiated by Matt Chambers and Orlando Maciel of Knight Frank in conjunction with Peter Pazios of Coutts acting on behalf of the vendor.
Features of the warehouse include four roller shutter doors, clearance ranging from 8m to 8.85m, full concrete panel construction clearspan warehouse (panel free), and full vehicle drive-around access with multiple awnings for all-weather loading.
Mr Chambers said a highly competitive five week on-market Expressions of Interest campaign for the property attracted genuine interest from more than 80 buyer groups and representatives.
“The interest was evenly split between owner-occupiers and investors, culminating in a suburb record sale,” he said.
“This reflects the ongoing strength and confidence in the market, as well as the demand for quality industrial assets within Western Sydney.”
Mr Maciel said the industrial facility was in a prime location in Eastern Creek, which was widely regarded as the leasing logistics hub on Australia’s eastern seaboard.
“The occupancy rate in Eastern Creek is more than 92%, with the suburb highly sought after by tenants and owner-occupiers,” he said.
“This is a landmark Eastern Creek site with strong visibility and signage exposure to Wallgrove Road and the M7 Motorway.
“It is highly accessible, with direct access to the M7 and M4 Motorways with connections to all major arterial roads.”
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