This article is from the Australian Property Journal archive
A SPATE of leasing and sales transactions have been completed in Sunshine West, resulting in higher sale prices and rents.
Knight Frank’s Joel Davy and Tony Tripodi brokered the deals.
Two sites at 199 and 207 Proximity Drive have sold individually for $1.6 million each. 199 Proximity Drive comprises a 1,371 sqm building including a 277 sqm office and 1,094 sqm clearspan warehouse. Similarly, 207 Proximity Drive comprises a 1,371 sqm warehouse and office building.
At 191 Proximity Drive, a 1,355 sqm industrial facility sold $1.565 million and 33 Enterprise Way which fetched $880,000.
Nearby at 111 Technology Drive a 463sqm site sold for $635,000 representing a rate of $1,371 per sqm.
Davy and Tripodi also negotiated the lease of a 958 sqm office warehouse at 27 Venture Drive achieving $78 per sqm, and a 825 sqm warehouse at 66 Endeavour Way achieved $80 per sqm.
Davy said that over the last 12 months we’ve seen a 10% increase in sales rates. “Small scale developments that were achieving $1100 per sqm a year ago are now going for $1300 per sqm,” Davy said.
Tripodi said strong demand in the area, properties are being turned over at an increasingly fast rate and he expects the trend will continue.
Australian Property Journal