Strong interest in industrial properties, coupled with limited availability, draws purchasers to Sydney's Inner West and South regions
With Sydney’s commercial property market demonstrating strong performance, Raine & Horne Commercial has announced an auction of six high-value industrial properties, aiming for a combined sale over $35 million.
“A consistent theme over 2023 was the strength of the industrial market,” said Luke Smith (pictured left), director of Raine & Horne Commercial Inner West/South Sydney. “Our team saw this trend first-hand in the inner ring industrial regions of the Inner West and South Sydney.”
A recent auction exemplifying this trend saw an industrial building with office space at 158-160 Victoria Road, Marrickville, sell for $5.48 million — $980,000 above its reserve price, equating to $9,133 per square metre. Another notable sale was of a 1,185 square metre industrial warehouse at 16-18 Cahill Street, Annandale, which fetched $6.14 million.
These sales underscore the Inner West’s commercial market’s sustained appeal and prompt a renewed auction initiative for five more properties, with prices ranging from $1 million to $12 million.
The upcoming National Auction Event will be held in person and online on March 14, with detailed information and bidder registration at Raine & Horne’s website.
The auction features a standout property (pictured below), a 1,641 square metre industrial site at 13 Barclay Street, Marrickville, distinguished for its high clearance warehouse space and container access, with a guide price of $12 million.
Another property (pictured below), 112 Pyrmont Bridge Road is also listed for auction, offering a prime city fringe location for businesses or investors. This property includes a showroom, office, and warehouse on a 1,589 square metre land with three street frontages and a guide price above $10 million. It currently generates $70,000 per month from multiple tenants.
Ben Ayers (pictured right), sales and leasing consultant at Raine & Horne Commercial Inner West/South Sydney, has listed 112 Pyrmont Bridge Road to go under the hammer at the National Auction Event.
“This three-level building is versatile and well-suited for various business purposes such as showrooms or a corporate looking to combine its office and warehousing requirements on the fringe of Sydney,” he said.
“This property is an ideal choice for owner-occupiers in search of a freehold property for their business or investors looking for a high-quality, multi-tenanted investment with strong market rental appeal.”
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