The recent sale of a 6,993 square metre parcel of land at 5&6/2 The Crescent in Kingsgrove shows the strength of Sydney’s industrial market, according to the Director of M5 Industrial Property Services Dan Biner.

 

Mr Biner told Williams Media that the property had attracted a vast amount of interest from both the owner occupier and development sector prior to sale because of the limited land available in the St George and Southern Sydney market.

 

He said Kingsgrove’s proximity to major infrastructure, transport and ports along with high rental rates and limited vacancy had led to an exponential growth in popularity and vendor interest in recent years which was continuing into 2019.

 

The property is now expected to soon house a modern industrial complex comprising a mixture of both Hi-Tech and high clearance factory units.

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Mr Biner said that interest in the property had been intense leading into the sale.

 

“Whilst the owner occupier sector did have a hand in the ultimate price, it was the strong demand for Industrial Strata in the area that was the determining factor,” he said.

 

“Given that Kingsgrove is such a highly sought-after area, the architects, developers and consultants worked very closely with us at M5 Industrial to ensure that the complex being delivered to the market was highly functional, presentable and well considered to ensure delivery of one of the area’s premium industrial offerings.”

 

Kingsgrove is located on the M5 East Motorway approximately 6kms from Sydney Airport, 14 kms from Port Botany and 20kms south of the Sydney CBD.

 

“Another factor that has worked in favour of Kingsgrove as a business location is its ease of access to Sydney’s eastern suburbs, allowing many business owners located in the east to travel against traffic to work,” Biner said.

 

“Investment in Kingsgrove does not appear to be slowing down.

 

“Sales rates and investment yields being achieved would indicate that the area is still very popular with strong future growth potential and historically low vacancy rates.”