Hammer falls for Leda on Smithfield prime corner parcel for 425m
Hammer falls for Leda on Smithfield prime corner parcel for $4.25m
| 5 October 2016
Leda Holdings has landed a new project in the heartland of Western Sydney industrial market with the purchase of a Smithfield facility at auction for $4.25 million.
Positioned on a prime corner parcel, the 8,053sqm property comprises a rectangular site on the corner of O’Connell Street and Horsley Drive, Smithfield.
CBRE’s Elijah Shakir and Peter Blade handled the auction process for 727 The Horsley Drive, which attracted a crowd of more than 30 people and bidding interest from six parties, including developers, investors and owner occupiers.
The final sale result achieved a land rate of $528 per square metre.
Mr Shakir said the opportunity to secure a unique corner holding in one of Sydney’s proven industrial locations underpinned strong buyer interest during the campaign.
“As one of Western Sydney’s most well-established and revered industrial hubs, Smithfield remains a key market for owner occupiers,” Mr Shakir said.
“The opportunity to acquire such a significant parcel on a prominent corner site attracted buyer interest from both local and interstate groups. The end purchaser - a leading industrial developer - plans to develop a high profile unit complex incorporating both retail showroom and industrial units, which will be released to the market for presale in Q4 of this year.”
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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 (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.