Milperra warehouse sells for $22.5m

A local paid $22.51 million for a half-vacant Milperra industrial investment – then leased the balance before settlement.

The sale price for 339 and 349 Horsley Road reflects a 5.4 per cent yield.

The land rate was $688 per square metre; the 3.4 hectare property with three crossovers has development upside.

LJ Hooker Commercial’s Jon Orsborn brokered the sale and worked with CBRE’s Michael O’Neill and Keegan Ridings to find a tenant for the unfilled portion – a 2.3ha site with a 5987 sqm office warehouse, which was committed to for five years just before settlement (story continues below).

The 349 Horsley Rd component also includes a weigh bridge and diesel fuel tanks.

Milperra is about 24 kilometres west of Sydney.

Share or Recommend article

Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco