Occupier pays $26m for west Sydney warehouse
A local owner occupier has outlaid $26.1 million for a west Sydney industrial property tenanted until June.
The price for the 6622 square metre holding, 20 Derby Street, Silverwater, reflects a low 4.03 per cent yield.
An existing improvement, completed in 2014, contains 3631 sqm. The warehouse clearance is a high 13.3 metres accessed from three roller doors and a dock. The office is also modern.
The site, accessed from four crossovers across two streets, came permit-ready for a second office/warehouse, with 1007 sqm.
20 Derby Street
About 19 kilometres west of the CBD, Silverwater is considered metropolitan Sydney’s geographic centre.
Australia Post, David Jones and Harvey Norman occupy major nearby properties.
“The recent upgrade to the M4 via the West Connex project (traffic light free route of 20.1 kilometres) has decreased travelling times to Port Botany to 35 minutes,” JLL agents, Marco Chiodo and David Lidgard, said.
The property is also supported by major arterial routes, Parramatta, Silverwater and Victoria roads, they added.
“The campaign attracted a huge amount of interest from occupiers, investors and developers,” according to the executives.
“The successful purchaser [is] looking to expand their operations”.
Yesterday, we reported operators traded the Silverwater Hotel – repurposed out of a restaurant – for $77m.
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