32 McCauley Street, Alexandria was purchased by a local investor, seeking freestanding industrial sites within the tightly held South Sydney pocket.
Set on a 460sqm freehold site, the warehouse generated strong engagement, with four other local investors and owner-occupiers pushing throughout the campaign.
Brought to the market by RWC Industrial City South agents Marcus Schraag and Costa Fragias, the property gained particular interest by buyers who were usually priced out of freestanding ownership in South Sydney.
“Given it was a sub-$5 million freestanding warehouse in Alexandria, that's an increasingly rare offering in today’s market,” said Marcus Schraag.
“Freestanding industrial properties of this size and price point are now nearly extinct across the precinct.”
Despite current global uncertainty in the market, Costa Fragias said experienced property investors are still adept at identifying emerging opportunities.
“ During these periods, a portion of the buyer pool often pauses activity, but this is when you really see experienced investors moving forward. Particularly when such a genuine and rare property becomes available” said Mr. Fragias.
