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Logos marks Yennora divestment with $14.15m sale

Property Markets / Transactions

Australia / Sydney

Mar 22 2018

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Logos has capitalised on strong owner occupier demand in Sydney’s shrinking infill locations, divesting a circa 8,800 sqm facility in Yennora for $14.15 million. 

The 5 Pine Road property, was secured by a private owner-occupier after a competitive Expressions of Interest campaign that attracted up to 10 offers. 

The property is ideally positioned for refurbishment, being located opposite the Yennora intermodal terminal and within close proximity to train networks. 

CBRE’s Elijah Shakir, Jason Edge and John Micaleff managed the sale process on behalf of Logos. The transaction reflected a building square metre rate of $1,595. 

Commenting on the purchaser’s motivation for securing the property, Mr Shakir said: “The development potential of this property was a key driver underpinning the sale, with the purchase an owner-occupier who intends to occupy half the property and lease the residual building area.” 

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