Yoghurt factory collects $8.2m from pharmaceutical group
A pharmaceutical group has paid $8.2 million for a Smithfield industrial property with plans to occupy.
The 4546 square metre holding, 98 Long Street, was offloaded by the directors of Fab Fresh Bros, the owners of yoghurt manufacturer Ruby and Roy’s, which utilised it as a production plant with cold storage, but will now retire.
The asset contains 2406 sqm of improvements.
“With a severe shortage of industrial property for sale and limited supply available we had substantial interest from owner occupiers, developers and investors,” CBRE’s Janet Jolijan, who brokered the off-market deal with Elijah Shakir, said.
“This is reflective of the continued strong demand across Western Sydney and in this case the site was perfectly suited to the pharmaceutical group buyer,” she added (story continues below).
The deal comes two years since Factory Fast outlaid $7.95m for a 3306 sqm warehouse on 4650 sqm at 15 Sturt St, Smithfield, also with plans to occupy.
Last year Mirvac committed Tyres 4 U to a 2.4 hectare industrial property in the suburb formerly rented to Snack Brands Australia.
Smithfield is about 25 kilometres west of Sydney.
Subscribe to our newsletter at the bottom of this page.
