LedaHoldings has bought a 14,000-square-metre footprint in Yennora’s industrial precinct for $8.75 million, a record sale for the suburb.
CBRE’s ElijahShakir and JasonEdge negotiated the sale of 51A and 51B Nelson Road – marking the final sale in the second stage sell-down of Logos Property’s Alcoa land subdivision.
The property, opposite the Yennora intermodal and within a short walk to the Yennora train station, comprises a 13,780-square-metre benched and serviced site suitable for development.
Mr Shakir said the sale reflected a land rate of $635 per square metre – the highest rate achieved for a 1ha-to-2ha lot in Yennora historically.
“Yennora continues to strengthen as a highly desirable industrial precinct, with land rates increasing over 50 per cent in the region over the past 24 months,” he said.
The Yennora Distribution Centre is directly north of the property, and further industrial developments are within the surrounding suburbs of Fairfield East, Villawood, Smithfield and Wetherill Park.
“Logos has played an important part in the area’s transformation and ongoing appeal with the staged subdivision of the former Alcoa site.
“The region has had a significant uplift through the land subdivision, with owner-occupiers and investors benefiting as they either redevelop, refurbish or submit plans to the council. The future of Yennora has captured the imagination of several high-profile investors.
“Recognising the area’s growth, Leda Holdings has been an active land buyer in Western Sydney for a significant time, with this sale further demonstrating its desire to build up its development pipeline in the area.”
CBRE has sold more than $100 million over 10 land transactions since Logos subdivided the former Alcoa site in 2016
The Yennora Distribution Centre is directly north of the property, and further industrial developments are within the surrounding suburbs of FairfieldEast, Villawood, Smithfield and WetherillPark.
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