An investor has paid the owners of Class Windows and Kitchen Elements $6.8 million for a Guildford industrial facility.
Seventeen offers were received for 69 Woodstock Road following an expressions of interest campaign conducted during COVID-19 conditions by Ray White Commercial Western Sydney’s Joseph Assaf, Peter Vines and Victor Sheu.
On 6102 square metres, also with frontage to Marian and McArthur streets, the property contains a 3462 sqm warehouse and office.
The vendors paid $1.175m in 1995.
“The industrial market has remained resilient and is the most robust asset class to overcome the issues imposed by COVID-19,” Mr Assaf said.
“There’s increased demand for well-appointed properties as businesses increasingly move out from retail and commercial areas, and into warehouses” (story continues below).
Mr Vines added “this increase in demand coupled with low interest rates and vacancy periods has stemmed from logistics, manufacturing and distribution services”.
“This has resulted in an increased appetite from investors to capitalise on this market, which has seen both capital and incomes grow”.
Guildford is about 20 kilometres west of Sydney.
It is five kilometres south of Parramatta.