This article is from the Australian Property Journal archive
AN industrial development site in Sydney’s outer south west sold under the hammer yesterday for $9.6 million, the headline act of a portfolio auction that netted $29 million in sales.
The vacant property at 46 Anderson Road covers 7,009 sqm and was billed as “one of the last blocks of E4 General Industrial zoned land of this size not just in Smeaton Grange but in wider south west Sydney” by conjunctional agents, Raine & Horne’s Daniel Krobot and Maria Agostino and Colliers’ Angus Urquhart and Adrian Balderston.
The property offers direct access to the M5 and M7 Motorways via Camden Valley Way and Narellan Road.
It was sold at a Raine & Horne auction event held at 50 Margaret Street in Sydney, handled by Jesse Davidson and Jake Downs of Auctionworks. Six properties sold under the hammer, one sold immediately after auction, six were passed in and five were snapped up before auction.
Another industrial development site, this time in Campsie, sold for $7.27 million. The 2,760 sqm property is DA approved for 11 industrial units plus 24 self-storage units.
A warehouse site in Dubbo occupied by a subsidiary of ASX-listed MAAS Group Holdings also sold, for $1.55 million, with a return of $88,000 plus GST.
Also in Dubbo, a Hungry Jack’s proved to be a major attraction – selling for $5.17 million. The property has a 15-year lease to Hungry Jack’s head office to 2035 with five-year options to 2050, and brings $256,790 per year plus GST in rent.
Other properties trading under the hammer included a 411 sqm Marrickville corner development site with a 2.6:1 floor space ratio, for $3.88 million, and a vacant 120 sqm Sydney CBD office within 447 Kent Street for $1.66 million.
