An owner occupier has outbid three investors to secure one of the last vacant industrial land offerings in South Sydney for $2.75 million.
CBRE’s Nick Zenonos and Nathan Egan negotiated the sale of 2-12 Underwood Avenue in Botany on behalf of Vendor K.Howell and Sons Enterprises Pty Ltd.
The 1,043sqm property is zoned Industrial and suited to accommodate warehousing & distribution; hardware and building supplies; and light industries.
Mr Zenonos said the property represented an attractive opportunity to secure a footprint in the tightly held South Sydney area.
“As one of few remaining significant industrial landholdings in Botany, there was strong buyer interest that culminated in a record land sale rate of $2,636 per square metre,” Mr Zenonos said.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia 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 2016 revenue). The Company has more than 75,000 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 atwww.cbre.com.