Developer snaps up Seven Hills sites
The largest industrial development site offered in Seven Hills this year – spreading 1.14 hectares – has sold.
Sky Grand Holdings paid $17.88 million for 120-122 Station Road following an expressions of interest campaign closing earlier this month.
A business park with c1000 sqm office/warehouses is planned.
The company is completing another asset of this type, at Auburn, with 850-2000 sqm buildings.
Offered with development plan
Zoned E3: Productivity Support, 120-122 Station Rd previously sold in late 2023 after over 50 years, for $12.3m.
With 6049 sqm of buildings, it was returning $764,000 per annum.
This time around, the property was offered with a development scheme for 71 office/warehouses, between 30-453 sqm. A permit had been applied for.
Parkside Commercial’s John Orsborn and Matt Keeping were the agents.
The result values the land at $1570 per sqm.
Seven Hills is about 33 kilometres west of Sydney’s CBD.
Earlier this week we reported the owner of Fresh & Green sold its Riverwood base of 24 years to an industrial developer.
Covering 8267 sqm, that block fetched $19m.
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