Seven Hills industrial asset fetches $7.2 million from owner-occupier
An industrial investment in Sydney’s north west Seven Hills has sold to an owner occupier for $7.015 million – a price which sets a precinct record building rate, according to the marketing agents.
The modern 2283 sqm facility at 5 Tollis Place was contested by a mix of investors, as well as other potential occupiers, CBRE’s Matthew Alessi and John Micallef said.
The result values every square metres of lettable area at $3073 – a watermark for a freestanding building over 2000 sqm in Sydney’s north west, Mr Alessi added.
The warehouse offers clearance of up to 8.6 metres, accessed via two roller doors.
An 18-metre wide awning provides access to a concrete yard with storage and mezzanine areas adding 547 square metres not counted as part of the lettable area.
CBRE marketed the potential of the property to easily be split into two tenancies.
It closed an expressions of interest campaign for 5 Tollis Place last November.
Seven Hills is about 27 kilometres from the CBD.
This particular site is close to the M7 and M2 roadways.
