West Sydney warehouses fetch $16m
An industrial asset with two buildings – one leased for five years – has sold to an occupier.
The Girraween property, 93 Mandoon Road, collected $16.1 million at the end of an expressions of interest campaign in early May.
On 8095 square metres zoned General Industrial it contains two heavy manufacturing plants with a combined 4550 sqm.
One warehouse, at 2380 sqm, is slightly larger than the other (2170 sqm).
Warehouse clearance is seven metres.
There is also three phase power to 200 amps.
Girraween is 30 kilometres west of Sydney’s CBD (continues below).
Occupiers prevalent
Occupiers showed the most interest despite the property only part being vacant now, according to Ray White Commercial’s Owen Wilson, who brokered the deal with Peter Vines, said.
“Properties of this scale and functionality in Girraween are incredibly difficult to secure,” he added.
“The campaign attracted a broad range of buyers, particularly larger occupiers looking to future-proof their operations in a market where opportunities to acquire substantial infill industrial assets are becoming increasingly scarce,” according to the executive.
“Despite one of the facilities being leased on a further five-year term, the campaign generated surprisingly strong interest from owner-occupiers seeking the ability to occupy part of the site immediately while planning for future expansion”.
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