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Site Sale Could Pave Way for $1 Billion+ Last Mile Estate
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  • Investor stakes $2.55m claim on new Eastern Creek facility

Investor stakes $2.55m claim on new Eastern Creek facility

30 September 2015
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Sydney, 30 September 2015 – A private investor has swooped on a brand new industrial facility in Eastern Creek’s Turn4 subdivision for $2.55 million (plus GST) – setting a new price record in the Western Sydney region.

Located at 78 Peter Brock Drive, the property comprises a 1,113sqm building situated on a 2,039sqm site.

The building offers full height concrete panel construction, a column free warehouse with internal clearances of 8.8 metres, two roller shutter doors and a ground floor reception area with lunch rooms. The first floor offices are carpeted and air conditioned, with amenities on both levels.

CBRE’s John Micallef and Matt Flynn, who negotiated the sale on behalf of a private owner, said there were a number of interested parties pursuing the property due to a lack of stock on the market, as well as the quality of the development.

“Located in the ever popular Eastern Creek industrial precinct, this property offered an attractive opportunity to acquire a quality freestanding asset in Western Sydney’s premium industrial market,” Mr Micallef said.

“The strong sales result, which set a new standard in the area, is testament to the strength of the industrial sales market at present.”

The property was sold with vacant possession, however, the purchaser has appointed CBRE to lease the property on its behalf. 

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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.​

 

 

 

 

 

 

 

 

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