Sydney

Logos marks Yennora divestment with $14.15m sale

Logos has capitalised on strong owner occupier demand in Sydney’s shrinking infill locations, divesting a circa 8,800 sqm facility in Yennora for $14.15 million.

22 Mar 2018

Logos has capitalised on strong owner occupier demand in Sydney’s shrinking infill locations, divesting a circa 8,800 sqm facility in Yennora for $14.15 million. 

The 5 Pine Road property, was secured by a private owner-occupier after a competitive Expressions of Interest campaign that attracted up to 10 offers. 

The property is ideally positioned for refurbishment, being located opposite the Yennora intermodal terminal and within close proximity to train networks. 

CBRE’s Elijah Shakir, Jason Edge and John Micallef managed the sale process on behalf of Logos. The transaction reflected a building square metre rate of $1,595. 

Commenting on the purchaser’s motivation for securing the property, Mr Shakir said: “The development potential of this property was a key driver underpinning the sale, with the purchase an owner-occupier who intends to occupy half the property and lease the residual building area.”

For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 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.

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.