Private investor Leda Holdings has kicked off 2021 with five land transactions in western Sydney, amounting to more than $20 million.
It comes as a land parcel in the Mamre Road Precinct of the Western Sydney Aerotropolis is also being sold and is expected to generate strong interest, with price expectations of up to $80 million.
Thanks to the rise in demand for online shopping, boosted by the closure of bricks-and-mortar stores during the pandemic, industrial property and zoned land for warehouse developments are in high demand.
CBRE’s Elijah Shakir and John Micallef and Savills’ Mick Ferreri negotiated the five individual Leda sales that formed part of a subdivided “englobo” block of land in Minchinbury, about 40 kilometres west of Sydney CBD.
The site is at 1079 Great Western Highway and has been subdivided into seven lots, ranging in size from 5000 square metres to 2.5 hectares. Leda Holdings plans to retain two of the lots to develop a business park fronting Great Western Highway.
Among the transactions was the sale of a 5438 sq m lot for $4.35 million to Bains Property. The buyer plans to build its new head office there and relocate from Eastern Creek.
Two further transactions involved the sale of separate 5154 sq m sites for $4.02 million each to owner-occupiers. Both groups plan to build industrial facilities to occupy and relocate from neighbouring regions.
Mr Shakir said the transactions highlighted the strength of buyer demand for industrial property in Sydney.
“With the supply of serviced land in western Sydney still quite low, owner-occupiers are looking beyond the traditional industrial hubs of the Erskine Park and Eastern Creek corridors to western Sydney’s fringe areas such as Minchinbury,” he said.
“This is helping to support industrial land growth for serviced industrial land across the M7 corridor. Land supply is set to increase in the coming 24 months, with the Mamre Road precinct now rezoned.”
In a separate deal, one of the last remaining land parcels within the Mamre Road Precinct, which consists of 20 hectares at 244-270 Aldington Road in Kemps Creek, is also being offered as an amalgamated site sale.
Advisers on the sale, Grant Bulpett, Mark Litwin and Angus Klem of Knight Frank, said the site was expected to sell for about $75 million to $80 million.
The original private syndicate landowners within the Mamre Road Precinct have retained ownership of the land to date but will sell it following the rezoning of the precinct in June last year and the recent exhibition of the draft Mamre Road Development Control Plan.
Mr Klem said the property was in a strategic location within the Mamre Road precinct and was surrounded by transport infrastructure.
“There is efficient access to multiple modes of existing transport including the M7 and M4 motorways, but the site will also benefit from a strong uplift from future transport corridors, including links for road, rail and air networks, with protected land within the precinct for future intermodal,” he said.
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Source: Thanks smh.com