Owner-occupier snaps up prime Smithfield industrial property at auction

A prime property in the highly sought after Smithfield industrial precinct has changed hands for $5.47 million following robust bidding at auction, reflecting strong ongoing demand for well-positioned industrial assets.

Located on a prominent corner at 46 Victoria Street, the property was secured by owner-occupier Conexa, who specialise in sustainable water infrastructure, with a short-term leaseback to the vendor, D&G Joinery, until July 2026.

CBRE’s Nicholas Kennedy and Janet Joljian managed the sale.

Mr Kennedy noted the property attracted significant interest throughout the sales campaign.

“The property’s prime location, versatile features including high clearance, five tonne gantry crane and ample power , and excellent connectivity to major transport routes proved highly attractive to potential buyers,” Mr Kennedy said.

The property features a functional warehouse with a total building area of approximately 846sqm including a mezzanine level and staff amenities.

The site has exceptional connectivity to the Cumberland Highway and major arterials including the M4 and M7 Motorways.

“The strong interest generated, with over 70 enquiries, 15 inspections and five bidders on auction day, is a testament to the property’s value and the overall strength of the industrial market in the region,” Ms Joljian added.