Commercial property markets in Sydney continue to thrive, with strong demand for industrial and commercial properties in sought-after locations.
The successful auction of a rare industrial site in Belmore and the high level of investor and owner-occupier interest in the innovative Made Marrickville development, underpin this assessment of the market. Additionally, a unique opportunity in Lilyfield which is attracting storing interest presents exceptional prospects due to its rare rezoning and prime location.
Belmore industrial site exceeds expectations by $1.1 million
Raine & Horne Commercial Bankstown recently achieved an outstanding result by auctioning a rare industrial site in Belmore for $4.7 million, an impressive $1.1 million above the reserve price. The property, spanning 1,485 square metres across three titles, attracted significant interest from investors and owner-occupiers seeking a substantial industrial asset in the tightly-held Belmore precinct. Selling agent Mark Ammoun, Principal of Raine & Horne Commercial Bankstown, said, “We are thrilled with the exceptional outcome of the sale as it showcases the strong demand for quality industrial properties in this small industrial pocket in Belmore, where many transactions are usually conducted off-market.”
Innovative Made Marrickville redefines Inner West Landscape
Made Marrickville (mademarrickville.com.au), an innovative workplace concept fostering collaboration among diverse businesses, is set to revolutionise the entrepreneurial landscape in Sydney’s Inner West. Developed by a collaborative effort between Toga, Rebel Property, and Braxton Capital, this unique development caters to various needs and budgets, with units priced from approximately $700,000 to just over $2 million, featuring floor areas ranging from 71 sqm to 230 sqm. The option to combine units for larger spaces is also available. Listing agent Luke Smith, the Director of Raine & Horne Commercial Inner West/South, said, “We just don’t get many industrial properties in this price range in our region anymore, and this concept, together with the lack of supply is driving local businesses and investors towards Made Marrickville.”
Exceptional opportunities in Lilyfield
Raine & Horne Commercial Parramatta has listed a rare and unique opportunity in Lilyfield, offering three adjoining lots with residential zoning and dual street frontage. With a total site area of 1,683 square meters, this opportunity boasts general residential zoning, increased floor space ratio, and height limits. The exceptional location, just 4.8 kilometres from the Sydney CBD and with excellent transport links, add further appeal. The property is being sold via an Expression of Interest by Raine & Horne Commercial Parramatta’s Duarte Figueira and Christian Cirillo and is expected to attract offers of between $12 -$15 million.
Chris Nicholl, General Manager – Head of Commercial Network, Raine & Horne Commercial, said the transactions and developments in the Sydney property market demonstrate a continuing demand for industrial and commercial properties in Australia’s biggest city.
“With the successful auction in Belmore, the groundbreaking Made Marrickville concept, and the exceptional opportunities in Lilyfield, we remain actively engaged with investors, owner-occupiers, and developers continuing to seek assets in sought-after locations.
“The positive sentiment showcased by sales and ongoing demand further reinforces the optimistic outlook for Sydney’s commercial property market.”
For all your commercial property sales and leasing needs, contact your local Raine & Horne Commercial office today.