Offshore investor flips Sydney showroom
A Chinese investor is banking a $2 million profit selling a south Penrith industrial investment after two years.
The Reece Plumbing backed property at 65-67 Batt Street, Jamisontown, just traded to a local buyer for $15.2m – a 4.83 per cent yield.
On 4199 square metres, it contains a 2443 sqm showroom, warehouse and office, built in 2016. There are also 36 car parks.
The ASX-listed occupier is on a 10 year lease expiring 2034 with six five year options (to 2064).
CBRE’s Geoff Sinclair brokered the off-market deal (continues below).
The vendor paid $13.25m – a 5.13pc yield – at auction.
Jamisontown is about 56 kilometres west of Sydney’s CBD.
It is about 17km north of the new Western Sydney International Airport.
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