Strategic industrial offering in the heart of Sydney’s Homebush West has been sold at a priced believed to be Circa $12m amid ongoing strong demand for quality properties of this type. The sales campaign was run by Matthew Pizzonia and Mark Silva of Knight Frank. 

The vacant property at 187 Parramatta Road generated intense buyer interest with 120 enquiries and multiple offers, with the successful buyer being a local owner occupier.

It was taken to the market via an expressions of interest campaign run by Matthew Pizzonia and Mark Silva.

The 4,372sq m property houses a 4,693sq m warehouse with 1,581sq m of first floor office and mezzanine, and has future development potential.

Mr Silva said the property was a rare opportunity in the industrial market in terms of both size and price point, so it was no surprise that it had generated strong buyer interest.

“We fielded enquiries from both owner-occupiers and high net worth or speculative developers and investors,” he said.

“Industrial properties of scale within this location is extremely rare to find so we were inundated with enquiry which shows how strong the appetite is for industrial property in these infill locations.

“The size was right within the sweet spot for a lot of groups who have been trying to find something like this for some time.

“In this particular precinct at Homebush West the industrial market is shrinking, with these properties changing their use to make way for higher and better uses given the increasing cost of land, so opportunities to purchase industrial properties of this nature are rare and sought after.

“The zoning allows for this site to be developed further in the future catering towards multi-level industrial warehousing.”

Mr Pizzonia said the property was in a great location, situated on the northern side of Parramatta Road, strategically positioned in between the Sydney CBD and the Parramatta CBD.

“This Homebush West property is in a great location, situated on Parramatta Road with huge exposure, opposite the well-known Sydney Markets and Centenary Drive, providing easy access into Western Sydney and the Sydney CBD.

“It is surrounded by an abundance of retail amenity including the Sydney Markets and DFO Homebush.

“The property also sits within close proximity to several major shopping malls such as Burwood Westfield, Rhodes Shopping centre and Lidcombe Shopping Centre.”

For information about this sale and similar sold properties please contact the selling agents via the contact forms below.