Colliers’ Adrian Balderston and John Tsoutsa sold a warehouse in Ingleburn for $11 million to Eilbeck Management Services Pty Ltd on behalf of EA1 Pty Limited and EH1 Pty Limited.
The investment and property management firm says the 16 Heald Road warehouse with a site size of 5168 sqm and building size of 2643 sqm attracted six bidders and sold for $4162 per sqm.
“It was a really compelling auction with both investors and owner-occupiers competing,” Adrian says.
“The market has reacted well and is still strong in the face of the federal election and rising interest rates,” he adds.
Colliers notes the property is on a corner with wide driveways to both streets, and that it has three extra wide sliding doors, two bays with crane rails for the included 10 ton and five-ton cranes, and max internal clearance of 10.7 metres.
“We are seeing high demand for facilities like this one, which have manufacturing combined with high power and a yard,” John says.
“The demand and necessity for industrial property in NSW is still outweighing external macroeconomic factors affecting other property markets,” he adds.
Colliers says the Sydney-based site also has a well-presented office and amenities across two levels, as well as high power.
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