ESR banks $32m in west Sydney
ESR Australia has sold an office/warehouse in Sydney’s west.
The Fairfield East property, 44-46 Mandarin Street, is trading to a private investor for $32 million.
On a 2.71 hectare rectangle shaped site, it contains a 20,085 square metre two storey multi-tenanted building.
About 9900 sqm is warehouse.
The vendor recently refurbished public areas including the lifts and vacant office spaces.
Also with a gym, occupiers include the Plumbers Supplies Co-operative, ORS Group and Woodville Alliance.
CBRE’s Rajal Chaudhary, Elijah Shakir, Shaun Timbrell and Michael O’Neill sold the office at the north east corner of Tangerine St.
Busy time for Villawood-area sales
Fairfield East is about 22 kilometres from Sydney.
In the area, we reported last month that Costco was paying $30.5m for a showroom next to its Auburn store, at Lidcombe, with expansion plans.
Aldi also sold a a vacant store in Auburn (story continues below).
Two months earlier, SCA Property Group paid Elanor Investors Group $129.5m for Auburn Plaza – coincidentally the centre the German supermarket relocated to.
Last August, Class Windows and Kitchen Elements offloaded its Guildford base after 25 years.
Mid-last year Melbourne’s Pelligra sold a Yennora factory to Ascendas REIT for $23.5m.
In 2018 Charter Hall paid a private investor $55m for Villawood’s National Archives of Australia facility.
ESR keeping busy too
Three months ago ESR paid $302.5m for 11 Propertylink industrial investments – six in Sydney and one at Yennora (205 Fairfield Rd).
Last April it offloaded a Liverpool office for $52.5m.
Not long earlier the group banked $24m from the sale of an commercial investment in Melbourne’s south east Mulgrave.
It also spent c$75m on a 79ha industrial development site at Cranbourne West in that city.
