A low coverage site within the tightly held inner northern industrial/commercial precinct of Airport West has sold to an industrial property developer for $4,322,000.
The property has a building area of 2,717sqm and a land area of 6,131sqm, it also consists of eight individual titles – allowing for development flexibility.
CBRE’s Daniel Eramo and Daniel De Sanctis negotiated the sale of 22-28 Hawker Street, which benefits from rental income until October 2021.
Mr Eramo said the Expressions of Interest campaign was highly competitive, receiving 11 offers in total.
“The majority of offers received were from the development sector, due to the property’s flexible nature and its short-term income offering,” Mr Eramo added.
“Buyers were also interested in the property’s eight individual titles, two street frontages, drive-through access and low-site coverage.”
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.
