Condell Park’s $5.3 million sale highlights industrial demand in western Sydney
The industrial market in South West Sydney is emerging as a competitive playground for developers and owners/occupiers as shortage of stock pressures the market.
Reflecting the area’s investment appeal, a private investor recently purchased a freestanding industrial property at Condell Park for $5.3 million from Marion Developments Pty Ltd through CBRE.
Located at 390-396 Marion Street, the 12,100 sqm site comprises a 4,000 sqm building area, featuring high clearance warehouses split across three separate buildings.
Selling agents Ryan Jennings and Tom Rourke of CBRE said there was high demand for freestanding property in Sydney’s west.
“Western Sydney continues to be one of Sydney’s most sought after real estate markets, with both residential and commercial developers looking to gain a footprint in the tightly held area,” said Jennings.
“As industrial and logistics users trend away from the tightening South Sydney and inner west industrial market, industrial areas situated further along the M5 such as Condell Park and Bankstown have seen keen interest from investors and owner occupiers,” added Rourke.
The property is nearly 33 km from Sydney CBD and has access to the M5 motorway.
