Clayton Road Investments has sold a warehouse facility at Smithfield for $5.05 million.
CBRE’s Elijah Shakir & John Tsoutsa negotiated the off-market sale of the 45 Sturt Street property to a private investor.
The freestanding, 1,650sqm facility is situated on a corner site of 3,082sqm. The property benefits from dual street frontage and provides a passing rent of $252,000 per annum net + GST.
Mr Shakir said the sale price translated to a record building rate for Smithfield of $3,060/sqm and a tight yield of 4.99%.
CBRE’s Elijah Shakir & John Tsoutsa negotiated the off-market sale of the 45 Sturt Street property to a private investor.
The freestanding, 1,650sqm facility is situated on a corner site of 3,082sqm. The property benefits from dual street frontage and provides a passing rent of $252,000 per annum net + GST.
Mr Shakir said the sale price translated to a record building rate for Smithfield of $3,060/sqm and a tight yield of 4.99%.
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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 more than 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.
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 more than 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.
