Western Sydney industrial lots change hands for $12.5 million

A developer has acquired five industrial lots in Smithfield for $12.5 million after a competitive Expressions of Interest campaign, reinforcing the area's position as one of Sydney's most sought-after industrial precincts. 

CBRE’s Janet Joljian and Nicholas Kennedy negotiated the transactions of 27, 29, 1F, 1D, and 1E Britton Street, Smithfield.  
 
The properties, a total of 6,070sqm, offer exceptional connectivity to major transport routes, including the M4 and M7 Motorways, Sydney’s arterial road network, and key freight infrastructure. 
 
Ms Joljian said the strong level of enquiry from owner-occupiers, developers, and investors demonstrates the ongoing shortage of serviced industrial land across Western Sydney. 
 
“Industrial land opportunities in Smithfield remain highly sought after due to the suburb's strategic location and limited supply. The successful sale of all five lots at a premium land rate of $2,059/sqm reflects the confidence businesses and investors have in the Western Sydney industrial market,” Ms Joljian added. 
 
The new owner plans to construct a high-quality industrial unit development with leasing opportunities expected to be released to the broader market upon completion.