Infrastructure projects such as West Connex and the recent announcement of the light rail through Olympic Park, Camelia Strathfield and Carlingford is attracting strong interest from a cross of industrial and commercial lessor's and purchase enquiries.
In addition, improved business confidence coupled with low interest rates are inspiring small to medium sized businesses to purchase assets under $5million in Western Sydney.
Demand from potential owner occupiers for Industrial property is at an all-time high, as demonstrated by the recent sale of 44 Adderley St Auburn, where price expectations were at $3 million and the property sold for $3,570,000 approx.
Another recent sale was 212-214 Parramatta Rd Auburn an investment, which sold for $2,700,000 reflecting a yield of 5.3% on the net rent.
Selling prices for industrial property have jumped from $2000/m² approx. for land and building to circa $2500/m² and much higher for industrial strata.
Raine and Horne Commercial have also been involved in a number of office leasing transactions. MSS Security relocated their head office from Ashbury to Silverwater, relocating approx.75 of their staff to refurbished office space and saving on traditional CBD rentals rates.
Raine and Horne Commercial are specialist is selling and leasing both commercial and industrial property – please contact Duarte Figueira for further information or to discuss your requirement 0417 277 177.
For recent transactions by Raine & Horne Commercial Olympic Park, please click here.