A Sydney-based owner occupier has recently acquired a freestanding industrial facility in Seven Hills Industrial Estate, in a deal valued at $5,275,000.
CBRE’s John Micallef, Greg Pike and Matthew Alessi negotiated the sale of the 5,525sqm site on behalf of vendor Patel, which is situated in the coveted Seven Hills industrial precinct.
The approximately 2,990sqm warehouse/ office, which includes mezzanine space, is located at 7 Tollis Place. The property offers two levels of modern accommodation, access via two large roller shutter doors, ample power supply from onsite substation and prime location in one of Sydney’s leading industrial precincts.
Mr Micallef said although the purchaser did not require the high power supply or mezzanine spaces, they were prepared to pay a premium price for the building due to the lack of alternative properties available in the area.
“The sale attracted strong buyer interest from a range of owner occupiers and investors, further evidence of the current heated demand for industrial opportunities in Sydney’s west.”
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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 (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.