Sydney, 30 March 2016- Furniture importer Xaio Holdings has purchased a 1,538sqm warehouse/office in Smithfield.
97 Percival Road was sold with vacant possession for $2,383,900. The property comprises a freestanding warehouse with roller door and ground floor office with full amenities. Xaio Holdings will occupy the premises for its furniture business.
Elijah Shakir and John Micallef from CBRE Industrial & Logistics Services brokered the deal on behalf of a private vendor.
Mr Shakir said the property was sold in an off market transaction showing the strong demand for assets in the smaller size bracket of free hold properties.
“This is another example of central western Sydney occupiers moving towards established industrial precincts for future long term trade,” Mr Shakir said.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.