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St Marys industrial site snapped up within two weeks of settlement

Property Markets / Transactions

Australia / Sydney

May 07 2018

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An industrial property in Sydney’s outer west suburb of St Marys has been leased shortly after its recent sale – highlighting the shortage of available stock in western Sydney. 

Custom Bus Asset Management Pty Ltd signed an eight-year lease on the 18-30 Vallance Street property within seven days of first inspecting the site.

The property, underpinned by a 20,700sqm site, consists of a 9,765sqm building featuring modern office accommodation and high clearance warehousing. 

CBRE’s John Micallef, Moshe Greengarten and Shaun Timbrell negotiated the lease for an annual rental of $105 per square metre net. 

“After selling the property to a private investor with a short-term leaseback, we were exclusively engaged to run a leasing campaign on the property. Within a month of the tenant vacating, we secured a new tenant for the site,” Mr Micallef said. 

“This incredibly quick turnaround highlights the strong competition for existing warehouses in western Sydney given the shortage of available stock at present.” 

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