This article is from the Australian Property Journal archive
AN industrial warehouse in the south western Sydney suburb of Peakhurst has been sold at auction by Ray White Industrial M5 for $1.3 million.
The property at 37 Stanley St Peakhurst was sold to packaging company, Smartpack Solutions Pty Ltd, by Ray White Industrial M5’s Ryan Jennings and Michael Abbott.
Jennings said the 2,020 sqm free standing warehouse attracted two registered bidders to the in-rooms auction.
“We had 17 registered inquiries on the property and there was strong competition at the auction. There was spirited bidding between the two registered interests and the warehouse was sold under the hammer following nine separate bids,” he added.
Abbott said the property was sold as a vacant possession on behalf of owner Control Systems Technology Pty Ltd, who have recently acquired a much larger facility in Revesby.
“The layout of the warehouse at Stanley Street was quite flexible which made it appealing to a number of different businesses.
“Being just over 20km from the centre of Sydney, Smartpack in their new facility are still very much in touch with Sydney’s CBD and Port Botany districts without having to pay the price that goes with these regions,” he concluded.
Property Review
