Land-rich Sydney office/warehouse fetches $39m
A land-rich vacant industrial holding in west Sydney has sold for the second time in four years.
Sky Rise Projects is banking just over $39 million, sources say, for 16-22 Raglan Road, Auburn.
It paid $28m with plans for a multi-level warehouse investment, with 33,548 square metres.
CBRE’s Michael O’Neill and Shaun Timbrell with Ray White Commercial’s Peter Vines and Owen White brokered the on sale.
Infill industrial site
The 2.95 hectare Auburn E4 General Industrial zoned site has 161 metres of Raglan Rd frontage (continues below).
A 9444 sqm improvement covers a low 32 per cent.
The address is walking distance to Berala and Regent Park stations.
The suburb is 17 kilometres from the CBD.
It is seven kilometres south-east of Parramatta’s CBD.
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