Property development group, Primewest Development has sold more than 50 per cent of Stage One at its $65 million industrial estate, ‘Interlink Strathfield’ since launching earlier this year, indicating demand for prime industrial property in Sydney’s inner west is strong.
Located on a prime corner site on Cosgrove Road and Cleveland Street in Strathfield South in Sydney’s inner west, opposite the Enfield Intermodal Logistics Centre, Stage One comprises 25 industrial units ranging in size from 140sqm to 300sqm.
Units have garnered strong interest from local businesses and investors, selling in the low to mid $4,000’s per square metre.
Primewest Development launches Stage Two
Primewest Development will now launch Stage Two which comprises 40 industrial units and 23 storage units. Stage Two includes 14 units with secure, fenced private yards, which is a unique offering providing occupiers with outdoor storage – rarely seen in strata developments.
The Interlink Strathfield estate encompasses 65 strata title industrial units sized from 150sqm up to 1,000sqm and 23 strata titled storage warehouse units sized from 21sqm to 82sqm. The site spans 26,000sqm and a low-density design allows ample space for wide driveways, parking and dedicated container drop zones allowing the estate to function smoothly and efficiently.
The strong sales result mirrors recent research from Moody’s, reporting that industrial assets will outperform the broader commercial market over the next several years, with ecommerce, tech and infrastructure driving demand. (Source: Moody’s February 2019)
Sydney’s shortage of industrial land near transport nodes has driven demand
Primewest Development Director Rob Thomas commented that Sydney’s shortage of available industrial zoned land, particularly around key transport nodes, has driven the demand.
“While we anticipated the market would readily take up the offering, we have been surprised how quickly the market has responded. This reflects the location and value proposition,” Mr Thomas said.
“Only 11 percent of Sydney’s industrial land is within 30-minutes of the CBD, so it’s a particularly rare asset.
“Because of its rarity, there is solid scope for capital growth with industrial land supply shortages continuing to be an issue. As an investment product, industrial units provide higher rental returns than residential property, returning an estimated 4.5 to 5.5 percent yields compared to only a 3 to 4 percent for a residential property.”
Designed by leading Australian architect Rothelowman, Interlink Strathfield represents a rare investment opportunity suited to small businesses, SMSFs, trade contractors, logistic companies and e-retailers alike.
“Buying off-the-plan has the added benefit of allowing purchasers the flexibility of buying adjoining units, or amalgamating units to allow flexibility. Some of our Stage One purchasers have bought adjoining units allowing for future growth and expansion,” Mr Thomas added.
“Buyers have largely been local businesses or investors attracted to the property’s location in the true heart of the Sydney metropolitan region, and also the site’s proximity to Enfield Intermodal Logistics Centre – which is the state’s largest intermodal with a direct train line to Port Botany,” he said.
Interlink offers businesses the ultimate security as well as additional benefits such as dual street access with frontage to both Cosgrove Road and Cleveland Street. A number of units have private secure yards which is a unique offering in this asset class.
Storage warehouse units are ideal for smaller business users or those needing to store a boat, vintage car, or those with more typical storage needs. They will also appeal to a keen hobbyist looking for space near home. All units have direct on-grade roller door access from within the gated grounds of the Interlink estate.
For enquiries regarding strata titled industrial units or storage warehouse units visit www.interlinkstrathfield.com.au
Or contact:
- Claire Barber, Primewest Development 0403 519 915
- Robert McLaurin, Niemeyer 0425 303 741
- Shaun Timbrell, CBRE 0433 302 979
