An investor has purchased a modern warehouse facility in Western Sydney for $11.2 million.
18-30 Vallance Street in St Mary’s comprises three buildings with a 9,765sqm total building area including 380sqm of premium office accommodation constructed in early 2016. It was offered for sale with vacant possession from February 2018.
Located within the established St Mary’s industrial precinct on a prominent 20,722sqm site, the flexible property is located close to the future Western Sydney Airport site, the Great Western Highway and M4 Motorway.
CBRE agents John Micallef and Jason Edge sold the property on behalf of Structalam Timber Products Pty Ltd.
Mr Micallef said the strong sales result is exemplar of the current market conditions forcing buyers to look further west.
“The investor bought the property with a short-term leaseback – proving that investors are looking for properties higher up the risk curve given the lack of investments available with long term leases in place,” Mr Micallef concluded.
18-30 Vallance Street in St Mary’s comprises three buildings with a 9,765sqm total building area including 380sqm of premium office accommodation constructed in early 2016. It was offered for sale with vacant possession from February 2018.
Located within the established St Mary’s industrial precinct on a prominent 20,722sqm site, the flexible property is located close to the future Western Sydney Airport site, the Great Western Highway and M4 Motorway.
CBRE agents John Micallef and Jason Edge sold the property on behalf of Structalam Timber Products Pty Ltd.
Mr Micallef said the strong sales result is exemplar of the current market conditions forcing buyers to look further west.
“The investor bought the property with a short-term leaseback – proving that investors are looking for properties higher up the risk curve given the lack of investments available with long term leases in place,” Mr Micallef concluded.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
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 (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.
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 (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.
