Leda Holdings has secured a circa 14,000sqm footprint in Yennora’s industrial precinct for $8.75 million - representing a record sale rate in the tightly held suburb.
CBRE’s Elijah Shakir and Jason Edge negotiated the sale of 51A-51B, Kiora Crescent – marking the final sale in the second stage sell-down of LOGOS Property’s Alcoa land subdivision.
The property, located opposite the Yennora intermodal and within a short walk to the Yeenora train station, comprises a 13,780sqm benched and serviced site suitable for development.
Mr Shakir said the sale reflected a land rate of $635 per square metre – the highest rate achieved for a 1-2ha lot in Yennora historically.
“Yennora continues to strengthen as a highly desirable industrial precinct, with land rates increasing over 50% in the region over the past 24 months. LOGOS has played an important part in the area’s transformation and ongoing appeal with the staged subdivision of the former Alcoa site. The region has experienced a significant uplift through the land subdivision, with both owner occupiers and investors benefitting as they either redevelop, refurbish or submit plans to council. The future of Yennora has captured the imagination of a number of high profile investors,” Mr Shakir said.
“Recognising the area’s growth, Leda Holdings has been an active land purchaser in Western Sydney for a significant time, with this sale further demonstrating its desire to build up its development pipeline in the area,” Mr Shakir said.
CBRE has sold more than $100 million over 10 land transactions since LOGOS subdivided the former Alcoa site in 2016
The Yennora Distribution Centre is located directly north of the property, while further industrial developments are located within the surrounding suburbs of Fairfield East, Villawood, Smithfield and Wetherill Park.
CBRE’s Elijah Shakir and Jason Edge negotiated the sale of 51A-51B, Kiora Crescent – marking the final sale in the second stage sell-down of LOGOS Property’s Alcoa land subdivision.
The property, located opposite the Yennora intermodal and within a short walk to the Yeenora train station, comprises a 13,780sqm benched and serviced site suitable for development.
Mr Shakir said the sale reflected a land rate of $635 per square metre – the highest rate achieved for a 1-2ha lot in Yennora historically.
“Yennora continues to strengthen as a highly desirable industrial precinct, with land rates increasing over 50% in the region over the past 24 months. LOGOS has played an important part in the area’s transformation and ongoing appeal with the staged subdivision of the former Alcoa site. The region has experienced a significant uplift through the land subdivision, with both owner occupiers and investors benefitting as they either redevelop, refurbish or submit plans to council. The future of Yennora has captured the imagination of a number of high profile investors,” Mr Shakir said.
“Recognising the area’s growth, Leda Holdings has been an active land purchaser in Western Sydney for a significant time, with this sale further demonstrating its desire to build up its development pipeline in the area,” Mr Shakir said.
CBRE has sold more than $100 million over 10 land transactions since LOGOS subdivided the former Alcoa site in 2016
The Yennora Distribution Centre is located directly north of the property, while further industrial developments are located within the surrounding suburbs of Fairfield East, Villawood, Smithfield and Wetherill Park.
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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 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: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 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.
