Blacktown City Council has sold an industrial site at Seven Hills for $2,010,000 at a highly competitive auction.
CBRE’s Matthew Alessi and Brendan Wein steered the sale of the Lot 3 Park Road property to a private buyer.
The 1,686sqm site offers 29 metres of frontage to Park Road and benefits from a flexible IN1 – General Industrial zoning, which would accommodate a wide range of users subject to the relevant planning approvals.
It is within walking distance of the Seven Hills bus and rail interchange and offers excellent access to the M7 and M2 motorways and major arterial roads
“The competitive auction campaign generated 33 bids and resulted in the property selling for $395,000 over the reserve,” Mr Alessi said.
“The sale price reflects a record rate per square metre for industrial land in Seven Hills and highlights the limited availability in of industrial sites in western Sydney.”
CBRE’s Matthew Alessi and Brendan Wein steered the sale of the Lot 3 Park Road property to a private buyer.
The 1,686sqm site offers 29 metres of frontage to Park Road and benefits from a flexible IN1 – General Industrial zoning, which would accommodate a wide range of users subject to the relevant planning approvals.
It is within walking distance of the Seven Hills bus and rail interchange and offers excellent access to the M7 and M2 motorways and major arterial roads
“The competitive auction campaign generated 33 bids and resulted in the property selling for $395,000 over the reserve,” Mr Alessi said.
“The sale price reflects a record rate per square metre for industrial land in Seven Hills and highlights the limited availability in of industrial sites in western Sydney.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 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.
