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High growth expectations for Alexandria, with development of commercial hub.

Property Markets / Transactions

Australia

Feb 28 2018

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The Bourke Road site sold for $24.5 million and is the second purchase by Tipalea Partners. Located close to the suburbs new $13 billion Green Square town centre, the warehouse offers a mix of warehouse, office and showroom space.

According to the Urban Developer Tipalea will combine the site with a second Bourke Street property, purchased for $13.4 million last year.

CBRE’s Nathan Egan and Stephen Grant, who negotiated the sale, told the Urban Developer that Alexandria and South Sydney were among the most attractive locations for investors and developers.

“Tenant demand in the commercial sector is at an all-time high, and with surrounding markets experiencing supply constraints this puts a stronger focus on Alexandria,” Egan said.

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