$20m Fyshwick sale drives massive industrial market boom
Burgess Rawson Canberra have sold almost an entire street of industrial assets in Fyshwick for $20 million.
A Canberra family has taken advantage of the huge demand from interstate buyers, to sell almost an entire street of industrial assets in Fyshwick for $20 million.
Sellers of the property at 11-51 Whyalla Street engaged Burgess Rawson Canberra agents Steve Burke and Guy Randell for the sale of the site housing 22 tenants across 16 industrial units and buildings which settled last week.
Mr Burke said industrial assets of this scale rarely come to market in Canberra, and a Sydney family investment group snapped up the properties for $20 million on a yield of 6.4 per cent, one of the best prices achieved in years.
“We are thrilled to have achieved this result for our clients. It’s certainly not the type of sale you see every day, but it just shows the huge demand for this type of investment,”
Prices in Canberra’s industrial suburbs have sharply increased since terms were agreed on the Fyshwick sale.
“Prices per square metre in the area have increased substantially,” Mr Burke said.
Managing Director Guy Randell said the sale and now management of the entire complex was a huge achievement for his agency.
“We’ve been able to once again show why Canberra’s investors rely on us to not only achieve exceptional sales results, but also why we are the Property Manager of choice for large scale investments,”
Burgess Rawson is now preparing for its 148th National Portfolio Auction event, where 69 commercial properties will be auctioned across three days in Sydney, Melbourne and Brisbane.
For more information on this tremendous sale, contact Steve Burke.