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Clyde freestanding warehouse smashes reserve at auction

ByJeff Moxham

A LOCAL owner-occupier has snapped up a freestanding warehouse in Clyde for $1,255,000, a substantial $215,000 over its reserve, at 4 Marsh Street.

The asset, that came with a 466sq m* building area and 493sq m* land area, had been occupied by an established tenant for the last 18 years.

The property was marketed and sold by Ray White Commercial NSW – Western Sydney Director Joseph Assaf and Associate Director Sam Bechara.

Mr Assaf said because of recent re-zoning in the immediate proximity to mixed-use residential, industrial properties in the area had become harder to come-by.

“We’ve lost a lot of industrial properties in the Granville precinct because of the re-zoning, so that means supply has been very tight,” Mr Assaf said.

“There’s a real shortage of properties like this one, and that showed during the campaign with more than 80 enquiries and 31 contracts issued.

“We had eight bidders battling it out on the day, with the opening bid starting at $850,000, before climbing all the way up to the sale price of $1,255,000.

“The buyer had been looking for a property of this type in the area for a while and plans to occupy in the future for mechanical business purposes.”

Mr Bechara said interest came from owner occupiers and investors, both of which wanted to take advantage of the great location.

“With the recent completion and opening of WestConnex, it means access between Clyde and the Sydney CBD has become a whole lot more accessible,” Mr Bechara said.

“That, and the arterial roads near-by, means accessibility to and from the city has been hugely improved and that really appealed to businesses.

“The asset offered a warehouse and office area, roller door access, high clearance, three-phase power, three on-site car parks, but also offered great truck access.”

*Approximately.

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