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Sydney warehouse sells for $8.8m: Colliers

Sydney warehouse

According to Colliers, a private investor – represented by the agent Tas Costi of Costi Cohen – has bought an industrial warehouse and office space in Sydney’s Banksmeadow for $8.8 million.

The investment management company says the southern Sydney property sold for a premium. It also says while there is little stock available, there is an extremely high demand for traditional freehold warehouses.

Colliers’ Trent Gallagher and Nick Mallett negotiated the deal.

“This sale showcases the continued high-level of interest from buyers in the South Sydney industrial market, as buyers continue to search for quality stock in an attractive location,” Trent says.

“Traditional freehold warehouses are in such high demand in the area and with available stock level so tight it ensures each property that we are selling goes for an absolute premium price,” Nick says.

The 2 Meadow Way property is sitting on 1869 sqms of land and comes with prized IN1 General Industrial Zoning. It has a high clearance as well as clear span warehouse with dual-roller door entry points.

Colliers notes the sales showcases how high demand is for freehold industrial properties within this market, particularly for owner-occupiers who are extremely eager to invest.

For more information on Colliers, click here.

 

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