Wetherill Industrial Park Sales


This week 2 industrial sites with development potential were sold for $83M.

The first, at 1403 The Horsley Dr was sold for $21.89M. A Development Application for the 19,770sqm triangular parcel of land was submitted in 2016 for the development of a a Medical Centre, Child Care Centre for 107 children, 11 Light Industrial Units, a Service Station with an estimated cost of $14.8M. That DA was withdrawn in June this year following a range of issues raised by RMS and the site was subsequently sold through CBRE. The purchase price represents a value of $1,107/sqm.

The second and larger sale was at 250 Victoria St, which traded for $61M. The 8.6ha site has an existing 11,021sqm office / warehouse together with hardstand and vacant development land. The existing warehouse is vacant and able to be leased. The asset was acquired by a private developer via listing agents JLL. The purchase price represents a value per site area of $709/sqm.

#Industrial

Capital Management Australia

PO Box R1254

SYDNEY   NSW   1225

Tel: +61 412 173 476

Email: warwick@cmaust.com

ABN: 32 610 910 819

AFSL: 493605

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