AMA constructions has sold its 3,224sqm industrial property in inner-Sydney to Made Pty Ltd.
The local strata developer is looking to redevelop the site into industrial units and capitalise on last mile delivery, the property at 106 Euston Road, Alexandria, was brokered by CBRE’s William Gathercole.
Mr Gathercole said; “The property was hotly contested with four Expressions of Interest offers received by the close date, with one buyer presenting a signed contract with deposit.
“Due to the limited supply of land in south Sydney and pent up demand for industrial strata units, the site was set to sell irrespective of the current climate,” Mr Gathercole continued.
“There hasn’t been any new industrial strata development completed in Alexandria over the past 10 years, making it an ideal time for developers to cater to increasing demand for business units close to the CBD.”
Located 500m north of the entry to the new WestConnex St Peters Interchange, the site has a 1.5:1 floor space ratio.
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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.
