The Smithfield & Wetherill Park industrial property market contains over 3 million sqm’s of industrial warehouse accommodation that is greater than 5,000sqm in size. It is a large, well developed and mature industrial property market. Whilst the current market offers approximately 181,000sqm of built space now available for lease and another circa 70,000sqm available with lease expiries that may come on line over the next 12 months, there exists only 2 properties over 5000sqm currently available for sale.
Whilst this presents many challenges for those businesses coming to market to acquire warehouse accommodation, it presents vendors with an enormous opportunity to generate strong returns by taking advantage of the lack of competition coupled with the strong levels of purchase demand.
Purchasers have access to a low interest rate environment, the NSW economy is relatively strong, huge infrastructure projects are well underway and now is the time in the property cycle to take advantage of the pent up demand to obtain super prices for industrial property. Vendors should come to the market with Link Property Services with a well designed and clear strategy to articulate to the marketplace, plus a full suite of property due diligence for buyers to best assess the property offering.
For further industrial property information please visit our website linkpropertyservices.com.au or call me on 0406 535 569
Paul Mileto is a sales & leasing Executive at Link Property Services. Paul has worked in the Western Sydney Industrial Property Market for over 15 years