Smithfield 199m landmark sale for offshore owner occupier
Smithfield $19.9m landmark sale for offshore owner occupier
| 27 July 2017
A private investor has secured a 28,500sqm footprint in the Smithfield industrial precinct for $19.9 million.
CBRE’s Michael O’Neill and Elijah Shakir negotiated the sale of the 17 Jumal Place property on behalf of private landlord BCH, which had held the logistics facility for over 15 years.
The 13,444sqm freestanding facility was previously occupied by tenants including British American Tobacco and Axima Logistics. The property is situated on the southern side of Jumal Place, within close proximity to Cumberland Highway and the M4 Motorway.
“The sale highlights the unwavering demand from owner occupiers looking to secure a presence in the Western Sydney market – driving up capital values as a result,” Mr Shakir said.
“Furthermore, there is another $50 million worth of assets that have exchanged over the past month to both owner occupiers and investors awaiting settlement.”
The sale follows the recent transaction of the Sydney Six portfolio, which was acquired for $71,000,000 - further demonstrating the appetite for assets in core industrial precincts.
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