A multi-tenanted industrial complex in Sydney’s North West has changed hands for $9,000,000.
CBRE’s Elijah Shakir, John Micallef and Matthew Alessi managed the sale of 81 Railway Road North, Mulgrave on behalf of NJS Corporation Pty Ltd.
Comprising eight factory units with a total lettable area of 4,825sqm on a land parcel of 20,240sqm, the complex has an annual passing income of approximately $726,447 net +GST.
The complex is located within an IN1 General Industrial Zone and features a large hardstand area of 6,376sqm.
“We received a high level of interest from developers and investors who see Mulgrave as having significant future growth potential,” Mr Micallef commented.
“The purchaser is a local owner occupier with an existing investment portfolio in the area, who was attracted by the opportunity to occupy part of the site while also collecting a strong income from the property.”
CBRE’s Elijah Shakir, John Micallef and Matthew Alessi managed the sale of 81 Railway Road North, Mulgrave on behalf of NJS Corporation Pty Ltd.
Comprising eight factory units with a total lettable area of 4,825sqm on a land parcel of 20,240sqm, the complex has an annual passing income of approximately $726,447 net +GST.
The complex is located within an IN1 General Industrial Zone and features a large hardstand area of 6,376sqm.
“We received a high level of interest from developers and investors who see Mulgrave as having significant future growth potential,” Mr Micallef commented.
“The purchaser is a local owner occupier with an existing investment portfolio in the area, who was attracted by the opportunity to occupy part of the site while also collecting a strong income from the property.”
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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 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.
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.
