A near record price of just under $40 million for Sydney Marrickville industrial property sold in an off-market sale by X Commercial sales agents Marcus Schraag and Daniel O’Brien.

The sale indicating no sign of the industrial property market slowing through lockdown in the Inner West.

In the largest sale to occur in the tightly held suburb this year, the 8,500 square metre property spans across three street frontages – Rich, Chapel and Sheppard Streets – and currently houses two tenants.

The purchasers are believed to be the same developers behind hospitality and retail development, Precinct 75 in St Peters, with the Marrickville site expected to receive a similar transformation.

X Commercial South Sydney sales agent, Marcus Schraag, said “The historic commercial building features a range of exciting and character-filled elements, making it attractive for its future use as a creative, retail and hospitality precinct in the heart of Marrickville.

“Many inner-west warehouses with attractive bones and features are becoming increasingly sought after for commercial conversions into creative office space, micro-breweries or cafes”, he added.

Mr Schraag said there was an increasing trend for large industrial sites across some Sydney pockets to be transformed from traditional industrial areas to trendy commercial precincts with mixed-use, creative projects in hospitality and retail, as well as commercial office or even residential, where zoning allows.

X Commercial sales agents Marcus Schraag and Daniel O’Brien completed the off market transaction. 

To request a sales analysis please contact either of the selling agents via the below contact details.