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Greenacre warehouse sells for $11.7m

Greenacre Warehouse

Colliers’ Sean Thomson and Trent Gallagher negotiated the purchase of an $11.7 million warehouse with a strategic 5.75-year WALE in Sydney’s Greenacre for a private investor.

The management investment company says the 6143 sqms site in Sydney’s southwest sold at a yield of 3.8 per cent as favourable conditions continue to fuel the industrial sector and demand for industrial properties remain high.

“We are continuing to see unabated demand from investors who actively target both industrial redevelopment and investment opportunities located within core infill industrial markets that benefit from access to major road infrastructure and good precinct amenity,” Trent says.

Colliers says Hannas Group sold the 1-3 Juno Parade property, which also has a total building area of 2100 sqms and a secure net passing income of $444,280 per annum.

“Driven by the rapid growth in e-commerce as well as strong tenant demand, low vacancy levels, and exponential rental growth prospects that lead to further capital growth, we expect to see the industrial asset class again outperform the other core asset sectors across 2022,” Sean says.

Colliers notes the site is currently occupied by Ausreo Pty Ltd under a five-year lease.

For more information on Colliers, click here.

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