Warehouse sells for $11.7m as industrial demand remains high

19 April 2022

A private investor has purchased a warehouse in Greenacre for $11.7 million as favourable conditions continue to fuel the industrial sector.

The property, located at 1-3 Juno Parade, was sold by Hannas Group and has a total site area of 6,143sqm, total building area of 2,100sqm and a secure net passing income of $444,280 per annum.

It is currently occupied by Ausreo Pty Ltd under a five-year lease. The sale achieved a yield of 3.8 per cent and it comes with a strategic 5.75-year WALE.

The deal was negotiated by the Colliers team of Sean Thomson and Trent Gallagher.

“We are continuing to see unabated demand from investors who actively target both industrial redevelopment and investment opportunities located within core infill industrial markets that benefit from access to major road infrastructure and good precinct amenity,” Mr Gallagher said.

“Driven by the rapid growth in e-commerce as well as strong tenant demand, low vacancy levels, and exponential rental growth prospects that lead to further capital growth, we expect to see the industrial asset class again outperform the other core asset sectors across 2022,” Mr Thomson added.