The hotly contested Western Sydney Industrial market has witnessed a freestanding warehouse sell off-market for $5.2 million.
The 25 Liberty Road, Huntingwood site was sold to Olympian Property Holdings Pty Ltd, a local business operator which had an upcoming lease expiry and was looking to purchase property in Western Sydney.
CBRE’s John Micallef and John Karlovasitis negotiated the transaction on behalf of Peter Charles Investments Pty Ltd – the Director of previous tenants Adaptalift Forklifts.
Mr Micallef said: “A number of agents were given the opportunity to sell the property, with CBRE successfully sourcing the buyer. The strong price achieved exemplifies the lack of industrial property currently available in Western Sydney at present, and the overwhelming demand we are witnessing from owner occupiers.”
Adaptalift Group Property Portfolio Manager, Dylan Lake, noted the sale represented a key transaction for Adaptalift and that they were pleased with the premium price that was achieved.
The 6,101 sqm site comprises a warehouse and office facility of approximately 1,900sqm.
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