Strong demand for industrial property in Sydney’s west has underpinned the $1,235,800 sale of a Seven Hills showroom and warehouse to a private investor.
CBRE’s John Micallef negotiated the sale of the 668sqm property at 12 Abbott Road on behalf of Industrial Parks of Australia.
Mr Micallef said the property, which was the last remaining unit in the complex available for sale, attracted strong buyer interest.
“The sale of this property, which concluded within less than a week of marketing, is further evidence of the strong level interest in industrial investment opportunities in Sydney’s west,” Mr Micallef said.
“We had a number of interested parties within the short period, which highlights the lack of stock on the market and the eagerness of investors to secure properties.”
The property, which is leased to Claytons Group and generates a net return of $78,000 per annum, was sold on a yield of 6.3 per cent.