Greystar sheds maiden industrial asset
Greystar has quietly sold one of four industrial assets which marked its entry into the local sector in 2022.
The US based investment house is speculated to be banking c$80 million for 26 Ferndell Street, South Granville, according to the AFR which is reporting the deal.
It paid the McMillan family $95m.
The buyer this time around is Gateway Capital.
Redevelopment planned
On 5.1 hectares, the South Granville property contains numerous units configured four years ago as about 25 units.
There is also c8000 sqm of hardstand (continues below).
Greystar planned to develop a logistics facility.
It is speculated Gateway will also proceed with that plan.
South Granville is about 20 kilometres south west of Sydney’s CBD.
More to come.
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