Colliers’ Trent Gallagher and Angus Urquhart along with My Space Industrial Agents’ Robert McLaurin and Pedro Tabrizi have been appointed to sell Lot 2, 128 Milperra Road in Revesby.
The agents say they expect the 1500 sqm Sydney property to sell for $4 million, and that it’s an exciting opportunity for developers, owner-occupiers, and investors.
“The Southwest industrial market has continued to see land rates growth at an extraordinary rate,” Angus says.
“In 2020 land rates were circa $1200 per sqm, fast forwarding to mid-2022 we are achieving land rates in excess of $2000 per sqm on a daily basis,” he adds.
Colliers notes it’s a bite-sized parcel of land in one of Sydney’s most land-constrained markets.
“The demand has been driven from limited land supply and buyers from South Sydney migrating to the Southwest in search for cheaper alternatives,” Trent says.
It provides a blank canvas to build an A-Grade industrial facility while benefiting from unprecedented rental growth an access to major arterial roads.
“In the past six months, more than $500 million worth of industrial sites have been sold to institutional capital to be redeveloped into multi-level industrial facilities,” Robert says.
The Milperra Road property will be offered for sale via private treaty with a forthcoming Expressions of Interest campaign.
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