A local owner occupier has purchased a 4,082sqm industrial freehold warehouse from Happy Time Investment Pty Limited in a deal worth above $9.5 million.
The property at 166 Eldridge Road in Condell Park had over 150 enquiries with 10 contracts issued throughout the campaign. It sold prior to auction for a price close to $1 million above the asking price.
With a building area of 1,799sqm and a low site coverage of just 44 per cent, the vacant property is zoned IN1 General Industrial and comes with 34 metre frontage to Eldridge Road.
The deal was negotiated by the Colliers team of Angus Urquhart, Hamish Miles and Adrian Balderston.
“The purchaser was attracted to the building due the opportunity to access the site immediately for a creative office/warehouse redevelopment for one of their business functions. The purchaser’s strong brand will further strengthen the Condell Park market through high end development of the property,” Mr Miles said.
The property comes with several attractive features including a high-power supply, a five-tonne gantry crane, 10.5m internal warehouse clearance and between eight and 10 parking spaces.
“The campaign demonstrates the strong demand from both local and South Sydney occupiers looking secure a foothold in the southwest market, properties like this are rarely offered – hence the strong interest throughout the campaign,” Mr Urquhart added.
Related Articles
