The purchaser of a three-building Revesby facility is the latest owner-occupier to hunt-out an off-market sale in Sydney's industrial corridor.
The $10.8 million sale of the 8,433sm site in Mavis Street comes as listings dry up in the record-low interest rate environment.
LJ Hooker Commercial Bankstown’s Ryan Jennings and Jon Orsborn introduced the buyer to the part-tenanted three building facility which holds a passing income of approximately $260,000 per annum.
The sale adds to a string of successful industrial sales for LJ Hooker Commercial Bankstown throughout Revesby, including the $6.725m sale of a 3,356sqm Carrington Street facility. That sale reflected a square metre building rate of $2,646psm.
"The rise in off-market activity is a sign of the market environment,” said Mr Jennings.
“On one hand you have the RBA indicating the current low-interest rate environment could extend for another couple of years; and, on the other, you have very limited stocks of good, quality industrial.
“Listings are as much as 20% down in certain pockets of the South-West compared to the same time last year, and even further down from the peak of COVID in Sydney.
“With that combination of factors, we're constantly fielding enquiries from owner-occupants wanting introductions to off-market opportunities.
“We’re seeing premium offers put forward because of their eagerness to secure their futures.”
The Revesby sale represents a building rate of $2,386psm.
Mr Jennings said the purchaser was relocating from the Central West to Revesby, drawn to the South-West corridor’s private and public infrastructure investment.
“Additions like the M5 upgrade, Moorebank Intermodal and Westconnex are increasing the appeal of the South-West amongst owner-occupants, investors and tenants who are seeking affordability and amenity,” said Mr Jennings.
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