A prominent strata unit in St Peters is expected to test the market as industrial rents continue to skyrocket in South Sydney.

JLL’s Murray Pettinger and Mark Silva have been exclusively appointed to sell Unit 5/24-26 Burrows Road, St Peters via Public Auction.

The 460 sqm St Peters property features a high bay warehouse with ground floor showroom potential and a first-floor office with four on site car spaces.

Mr Silva said, “The St Peters property represents an outstanding opportunity to acquire a prominent and highly exposed industrial unit within St Peter's only IN1 zoned industrial precincts. Assets is the South Sydney industrial precinct seldom come to market.

“Located in the heart of St Peters and on the doorstep of the new WestConnex interchange, it boasts one of the best access points within the area,” said Mr Silva.

Mr Pettinger said, “South Sydney has long been a covetable area for businesses to locate their operations given the area’s proximity to Sydney’s CBD, airport, and shipping port. Businesses see the value in connected locations like St Peters to reduce transportation costs and be closer to their customer base.”

The listing follows the recent lease of 47 Stephen Road, Banksmeadow that was just shy of 7,000 sqm and 1a Hale Street, Botany that was circa 21,000 sqm. Both significant transactions were brokered by JLL, with the latter representing the largest industrial lease transaction for the South Sydney precinct in many years.

JLL’s 2Q 2022 Research figures show that land values for 1ha lots in South Sydney have increased to $2,750 per sqm, an increase of 20% over the quarter. Further, prime net face rents have increased by 8% quarter-on-quarter in South Sydney over Q2, with incredibly low levels of vacancy in the precinct.

Mr Pettinger said, “There’s a shortage of land, a lack of supply and vacancy is an astonishing 0.5%. The South Sydney market is hotly contested as one of the most attractive industrial precincts in the country, and as such, the St Peters property is sure to drive fierce competition.”

The property is located 11km from the Sydney CBD, 5km from Sydney Airport and 11km to Port Botany as well as the major arterial road networks.

Public Auction for Unit 5/24-26 Burrows Road, St Peters to be held at Cooley auction rooms, Dexus Place on Thursday 18th of August 2022 at 10:30am (AEST)