Spartan flexes as industrial complex sells for 42 million
Spartan flexes strength as industrial complex sells for $4.2 million
| 22 September 2016
Spartan Steel has sold a three unit industrial complex in the highly sought after infill industrial suburb of Villawood.
21 Birmingham Avenue covers a site area of 2,994sqm and consists of a three unit complex with a building area totaling 1,965sqm, two of which are leased to Hyalite Pty Ltd and the third available for occupation. It is centrally located close to Woodville Road and the Hume Highway and in close proximity to the railway line.
The deal was transacted by Elijah Shakir and Shaun Timbrell of CBRE who sold the property for $4.2 million to an owner occupier for $2,137 per sqm.
Mr Shakir said the purchaser will move into the vacant unit which includes a high clearance warehouse serviced by gantry cranes, essential for the buyer’s business operation.
“CBRE was able to negotiate a premium figure sales figure on behalf of the vendor due to the limited supply of competing stock and the high quality construction and appeal of the premises,” Mr Shakir said.
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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 2015 revenue). The Company has more than 70,000 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 at www.cbre.com.