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.
It paid the McMillan family $95m.
The buyer this time around is Gateway Capital with plans for a business park (details below).
Cushman & Wakefield’s Tony Iuliano and Adrian Rowse were the agents.
What is planned
On a 5.8 hectare sloping site, the South Granville property contains buildings configured four years ago as about 25 tenancies.
There is also c8000 sqm of hardstand (continues below).
Greystar planned to develop the site.
Gateway is planning a 39,500 square metre estate with multi-level warehouses.
A spokesperson said the scheme includes three upper level buildings and a larger facility at the lower end creating a layered design that optimises access, circulation and functionality across different tenancy sizes.
Vaughan Constructions has been appointed builder.
South Granville is about 20 kilometres south west of Sydney’s CBD.
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