Landcorp buys Wetherill Park site for small unit project
Landcorp Group will build and sell down a small industrial estate in Sydney’s Wetherill Park after acquiring a serviced, registered, permit-ready block.
The 4899 square metre parcel, 2 Lagana Place, set it back $9.75 million.
The 3237 sqm project should be complete by the end of the year.
ReVest’s Elijah Shakir was the agent.
The deal comes two months since we reported Don Watson Coldstores sold its Wetherill Park headquarters of 20 years to another occupier, BE Campbell Group, for $40m.
Spreading two hectares, that property was between 1992-2005 home to biscuit maker George Weston Foods (continues below).
“We are seeing land values approaching $2000 per sqm for sites ranging between 2000-5000 sqm,” Mr Shakir said.
“This has subsequently flowed through to higher capital values with freestanding industrial buildings in this size bracket trading around $6000 per sqm while strata units are achieving closer to $8000 per sqm across Sydney’s metro west region,” he added.
Wetherill Park is 34 kilometres west of town.
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