Wetherill Park property sells for the third time since 2017

GMS Australia, the country’s leading medical radiations supply chain has sold its 8,795sqm industrial building in Western Sydney’s Wetherill Park for $45 million, marking the property’s third sale since 2017. 

Located at 488-490 Victoria Street, the 20,860sqm site sold to a corporate occupier who plans to occupy the building on expiry of the existing lease. 

CBRE’s Elijah Shakir and Michael O’Neill brokered the deal off market which translates to $5,117 per sqm of building area. 

“Our team first sold this property in 2017 to Leda Holdings before selling it to Global Medical Solutions Australia for their own use in 2018 for $18,125,000. The most recent transaction re-inforces owner occupier demand in the medium range in core infill markets is still strong,” Mr Shakir said.

“It is a quality prime freestanding premises with development potential which is what owner-occupiers at this level are searching for in Western Sydney.”