logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Australia
  • Global
  • United States
  • Albania
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Bosnia & Herzegovina
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Croatia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Montenegro
  • Morocco
  • Netherlands
  • New Zealand
  • North Macedonia
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Saudi Arabia
  • Serbia
  • Singapore
  • Slovakia
  • Slovenia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Capital Markets
      • Global Workplace Solutions
      • Investment Management (CBRE Investment Management)
      • Property Management
      • Valuation & Advisory Services
    • Industries & Specialties
      • Agribusiness
      • Build-to-Rent
      • Building, Depreciation & Cost Consultancy
      • Government Real Estate Advisory & Transactions
      • Hotels
      • Industrial & Logistics
      • Office
      • Residential
      • Retail
      • Retirement & Healthcare
      • Sustainability
      • Flexible Workspace
    • Services for Investors
      • Debt and Structured Finance
      • Host
      • Institutional Investments
      • International Investments
      • Investment Accounting & Reporting Solutions
      • Structured Transactions & Advisory
      • Leasing & Advisory
      • Metropolitan Investments
      • Property Management
      • Property Sales
      • Recovery & Restructuring
      • Valuation & Advisory
    • Services for Occupiers
      • Facilities Management
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Project Management
      • Sale and Leaseback
      • Structured Transactions & Advisory
      • Transaction Management
      • Valuation & Advisory
      • Workplace
  • Properties
    • Agribusiness
      Hotels
      Industrial & Logistics
      Institutional Investments
      Metropolitan Investments
      Office
      Residential
      Retail
  • Research & Insight
    • Australia Research
      Asia Pacific Research
      Global Research
      Expert Opinions
      Talking Property Podcast
  • People & Offices
    • Pacific Executive Committee
  • About CBRE
    • [email protected] - LGBTQI+ Inclusion
      Careers
      Case Studies
      Client Tools
      Corporate Information
      Environmental, Social and Governance
      Investor Relations
      Media Centre
      Reconciliation
      The Place Makers

Previous

Press Release
Paris is the world's 'hottest' retail market

Next

Press Release
Blue chip Hawthorn land holding up for grabs
  • Home
  • About CBRE
  • Media Centre
  • South Sydney residential ‘boom’ strengthens demand for industrial assets

South Sydney residential ‘boom’ strengthens demand for industrial assets

1 June 2014
  • Email
  • Share
  • Tweet
  • Share

Sydney, 1 June 2014 – Strong demand for freestanding property with residential conversion potential is underpinning increased sales activity in South Sydney’s industrial real estate market.

Technology solutions firm Crosspoint Telecom Pte Ltd recently acquired a South Sydney freestanding commercial property with residential conversion potential for $2.31 million.

Located at 122 O’Riordan Street in Mascot, the 796sqm Mixed Use property comprises a well-appointed warehouse, office and showroom building with high profile street exposure.

CBRE’s Mark Silva and Chris Ryan, who negotiated the deal on behalf of vendor Visahilt Pty Ltd, said the property’s development upside potential was a key selling factor.

“With freestanding industrial buildings in strong demand, this has generated great results for vendors looking to capitalise on the lack of stock in the market due to industrial properties being sold to residential developers,” Mr Silva said.

“Owner occupiers of properties with underlying residential upside are in turn taking advantage of this demand by offloading their assets for above average prices.”

Further demonstrating the strong demand for freestanding buildings in South Sydney is residential property development firm Advan Properties’ recent purchase of a showroom/warehouse facility for $4.5 million.

CBRE’s Michael Binskin steered the sale of 133-141 Botany Road in Waterloo on behalf of the vendor Kevin Malouf, which resulted in a strong land rate of $4,751 per square metre.

Mr Binskin said the 947sqm property offered a fantastic residential development opportunity (STCA).

“This property represented an ideal investment opportunity for the new owner to undertake a residential development in the increasingly popular South Sydney precinct,” Mr Binskin said.

“Advan Properties intends to capitalise on the area’s strengthening property market, and will lodge a DA for the site’s redevelopment.”

Chubby Elf Pty Ltd also recently secured a creative warehouse conversion for $3.2 million.

Located at 23-25 Doody Street, Alexandria, the 1,230sqm property features expansive frontage, a sizeable courtyard, air conditioning and multiple access points, including roller door access for unloading.

Mr Silva and Mr Binskin, who both steered the sale campaign, said demand for freestanding buildings was stronger than ever.

“With demand for freestanding property in South Sydney continuing to strengthen, owner occupiers are seeking out opportunities to acquire freestanding buildings in the region,” Mr Silva said.

For Australian/international news or global stories, follow us on Twitter.

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 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 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.au.

 

 

 

 

 

 

 

Media Contacts

Kathryn House Headshot
Kathryn House
Communications Director
Pacific
+61 2 9333 3585
+61 402 465 440
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • Case Studies
  • People & Offices
  • Executive Committee
  • Investor Relations
  • Contact Us
  • Australia Privacy Policy
  • Global Web Privacy and Cookie Notice
  • Whistleblower Policy
  • Sitemap
  • Terms of Use
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • Youtube