A rare large industrial property in Chester Hill has been sold for $21 million by Ray White Commercial NSW.
The property is on 38,200sqm of land and there are multiple buildings on the site, which total 15,577sqm of net lettable area.
The deal was between a private vendor, who had owned the property for more than 10 years, and a private investor. Both are Sydney based.
Mr Lord says: “The deal was strictly off market and as many purchasers struggle to find quality leased investments, we approached the vendor with a solid offer.”
The property is leased to Integrated Packaging with a net income of approximately $1.4 million per annum.
The sale of 149 Orchard Road reflects a net yield of 6.66 per cent.
Mr Lord says the affordability of markets such as Sydney’s central south-west is still attractive to both tenants and investors, offering good access to heavy rail nodes and passenger train services as well as the M4 and M5 motorways.