“The property was well received by owner occupiers and investors alike, pushing the rate past $2,400 per square metre,” Mr Shakir said.
“The transaction highlights the increasing demand for infill western Sydney locations, with the scarcity of land in metropolitan industrial areas driving capital values higher in order to secure sites in the $7 million to $10 million price range.
“The eventual buyer was yet another south Sydney owner occupier looking to relocate due to a higher and better use of their existing facility.”
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