Cushman & Wakefield has successfully facilitated the acquisition of a high-clearance, freestanding industrial facility in Wetherill Park NSW on behalf of a listed real estate fund.
Located at 11 Hexham Place, the well-presented warehouse/office offers unparalleled connectivity to major road networks, including Victoria Street, the M4 Motorway, and M7 Motorway, making it a sought-after asset within the high-demand Western Sydney market. The property was secured with vacant possession from a private vendor.
The 1,927sqm* building with a bonus 120sqm* showroom sits on a 4,197sqm* site. It benefits from an internal clearance of 8m – 9.1m*, four on-grade roller doors, dual driveway and full drive-around access, onsite car parking, and a substantial hardstand.
Cushman & Wakefield's Carl Pearce, Alistar Siokos and Nick Brooks commented the property is strategically located within one of Sydney's most dynamic and coveted industrial precincts.
"This well-presented freestanding warehouse generated a large amount of interest due to the rarity of buildings of this size and Wetherill Park’s proximity to major arterial roads, showcasing the precinct's superior connectivity to greater Sydney,” said Mr Pearce.
“The property, situated approximately 36kms west of the Sydney CBD and 14kms from the Parramatta CBD, is positioned to meet the growing demands of the industrial sector," said Mr Siokos.
Approximately 3.9 million residents can be reached within 45 minutes of Wetherill Park, representing approximately 75% of Sydney’s population.
According to Cushman & Wakefield's research, in the year to Q4 2023, prime industrial rents jumped 26.0% in Western Sydney, which is approximately six times above the long-term average of 4.2% per annum.
“Western Sydney’s industrial market currently has a low 0.7% vacancy rate (buildings above 3,000sqm), with only circa 200,000sqm available for immediate lease,” said Mr Siokos.
“A modest rise in the vacancy rate has been recorded over the past quarter, albeit it remains well below historical levels. The vacancy rate is even tighter in the Outer West (0.4%) and West (0.5%) submarkets.”
