Sydney, 20 September 2015 – A local owner occupier has snapped up an industrial site at auction in Wetherill Park for $3.325 million, representing the highest rate per square meter at auction on record in the area.
Located at 3 Sleigh Place, the 2,040sqm property features office and warehouse accommodations, 1,000amps of power with dedicated on site substation, high clearances of approximately 8.5 metres, and dual driveways and roller shutters - providing the opportunity to split the site into two tenancies (STCA).
CBRE’s Elijah Shakir and John Micallef negotiated the sale on behalf of Shaye Properties Pty Ltd.
Mr Shakir said the public campaign received extremely strong interest from both investors and owner occupiers, with both groups recognizing the current strength of the industrial market.
“The record breaking result is evidence of both the confidence buyers have in the NSW industrial market and the limited supply of quality stock that is currently available.”
“The auction was highly anticipated with over 50 enquiries registered throughout the campaign, in front of a crowd in excess of 30 people.”
“Over the past 12 months we have seen a significant increase in capital values in Wetherill Park, this has been underpinned by limited supply and high demand from owner occupiers” 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 2014 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.
