An industrial facility in Seven Hills has sold for $7.015 million, setting a new building rate benchmark in Sydney’s north west.
A 2,283sqm property, 5 Tollis Place has been purchased by an owner occupier whose transaction represents a rate of $3,073/sqm.
The modern, freestanding office and warehouse space offers clearance of up to 8.6 metres and access via two roller doors.
It is accompanied by a large concrete yard, with awning and mezzanine areas totalling 547sqm, while the location offers excellent access to the M7 and M2.
CBRE’s Matthew Alessi and John Micallef managed the Expressions of Interest campaign for the private vendor.
“The EOI process was highly competitive, attracting numerous bids from owner occupiers and investors,” Mr Alessi said.
“The property sold for well over the owner’s expectations, at a rate that sets a record for a freestanding building over 2,000sqm in Sydney’s north west.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
