Sale Date: April 2022
Substantial 7,435m² Industrial site in Botany. The property comes with a rare IN1 General Industrial zoning, significant frontage to Hale Street and immediate access to Foreshore Drive and the M5 Motorway.
Our Colliers Industrial experts Tom Barnier and Jeremy Green were appointed to sell 2-4 Hale Street, Botany. The challenge was to sell the asset for our valued client and unlock the highest value to achieve maximised results.
Our experts strategically coordinated an off market campaign that was designed to highlight the best uses and key features of the asset. The purchaser was a client that had underbid on another property that Colliers had recently sold. Our in-depth local knowledge allowed us to strategically present the off market asset knowing it would be a perfect fit for the purchaser’s requirements.
Tom and Jeremy worked with the purchaser Coombes Property Group who historically focussed on acquiring commercial property to assist in highlighting the benefits of the asset and where the value was in this opportunity. This transaction reflected Coombes Property Groups first substantial industrial purchase in South Sydney.
Our Colliers South Sydney experts were successful in selling the property at 2-4 Hale Street, Botany to Coombes Property Group for $25.25 million in a highly significant deal underscoring the strength of the southern Sydney industrial market.
This is a landmark sale and the price achieved is substantiated by the fact that 2-4 Hale Street, Botany is one of the last remaining large-scale development sites in Botany. Further adding to the significance of this transaction and highlighting the demand for prime land in South Sydney.
The Purchaser is a private organisation that owns, develops and actively manages a diversified property portfolio. Coombes intends to improve the property and remain a long term holder of the asset.
Our experts maximised the potential of property to accelerate the success of Coombes Property Group business operations.