The commercial markets in Sydney’s Inner West and South Sydney regions are currently experiencing robust conditions, characterised by low vacancy rates of 5% or less in the office, retail, and industrial property sectors. 

“This favourable situation has motivated local vendors to assess their true property values through auction sales,” said Luke Smith, Director of Raine & Horne Commercial Inner West/South Sydney. 

Consequently, Mr Smith and his team at Raine & Horne Commercial Inner West/South Sydney are set to auction six high-quality industrial properties, totalling over $35 million, at the Raine & Horne Commercial National Auction Event on 14 March 2024.

Mr Smith continued, “A consistent theme over 2023 was the strength of the industrial market. 

“Our team saw this trend first-hand in the inner ring industrial regions of the Inner West and South Sydney.”

The recent auction of an industrial building (with office space) at 158-160 Victoria Road, Marrickville, reflects the market’s buoyancy, attracting significant buyer competition. The hammer fell on a sale price of $5.48 million, which was $980,000 above the reserve, to deliver a final result of $9,133 per square metre.

Mr Smith’s team also managed the sale of 16-18 Cahill Street, Annandale late last year, which presented a rare opportunity to secure a 1,185square metre industrial warehouse property with parking for 16 cars, situated just metres from Parramatta Road, one of Sydney’s busiest thoroughfares. The $6.140 million auction result reinforced the enduring appeal of the Inner West’s commercial market, Mr Smith noted.

The success of auctions like these has motivated Mr Smith and his team to explore the market once again at the Raine & Horne Commercial National Auction Event. They will present five high-quality industrial properties with price guides spanning from $1 million to $12 million.

Prime industrial sites set for auction 

At the top of the ladder is “One of a Kind,” a 1,641sqm industrial site at 13 Barclay Street Marrickville that offers high clearance warehouse space and container access and has a price guide of $12 million.

“Warehouses that offer the clearance and access available like this property are near impossible to find in Marrickville,” Mr Smith said.

“The property’s unique combination of features makes it not only an ideal warehouse but also lends itself to being easily adapted for a wide range of uses such as more traditional wholesale automotive and construction industry firms, along with food wholesalers and microbreweries who will combine manufacturing activities with retail sales to the public.”

The property boasts abundant on-site parking, with the majority being secure and covered. It is conveniently located approximately 600 metres from Sydenham Train Station and the upcoming Metro Railway. Additionally, it is just a short drive to Sydney Airport and Port Botany. 

“In a thriving business hub like Marrickville, opportunities to secure a property of this calibre are becoming increasingly scarce, and we expect the bidding at the National Auction Event to be willing.”

Ben Ayers, Sales & Leasing Consultant from Raine & Horne Commercial Inner West/South Sydney, has listed 112 Pyrmont Bridge Road to go under the hammer at the National Auction Event. 

Presenting an exceptional opportunity for investors and owner-occupiers, this ultimate city fringe showroom, office, and warehouse property boasts 1,589 sqm of land and three street frontages. It has a price guide above $10 million.

“This three-level building is versatile and well-suited for various business purposes such as showrooms or a corporate looking to combine its office and warehousing requirements on the fringe of Sydney. It is currently generating a holding income of $70,000 per month from multiple tenants and therefore offers a unique investment proposition,” Mr Ayers said.

“This property is an ideal choice for owner-occupiers in search of a freehold property for their business or investors looking for a high-quality, multi-tenanted investment with strong market rental appeal.”

The National Auction Event on 14 March will occur in person at AuctionWorks at the Mezzanine Level, 50 Margaret Street, Sydney, and online from 10.30 am. To access more details about the properties available at the National Auction Event or to register as a bidder, please visit https://www.rhcommercial.com.au/national-auction-event