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Booming industrial market sees 20% rise in value for South Hurstville site

850858 King Georges Rd South Hurstville

Trent Gallagher of Colliers and Adam Bodon of Adam Charles have successfully sold 850-858 King Georges Road in South Hurstville for $12 million. The DA and CC approved mixed-use development site exchanged last Wednesday, sold on behalf of a private vendor to a private developer.

The prime corner location, offering a 2,025 sqm parcel of land, received strong interest from the market and a high level of enquiry.

The sale demonstrates the significant shift in demand for well-located sites, with the site selling for more than 20 per cent than what it last traded for in 2020,” Mr Bodon says.

As the overall residential market continues to push forward strongly, the unit market is also strengthening, leading to greater demand for attractive residential sites, as Mr Gallagher explains.

The market is as strong as we have ever seen it, even in these uncertain Covid times. Enquiry remains very high, and we are extremely positive about the months ahead,” Mr Gallagher says. “Boutique sites in particular are in high demand as they offer less risk and greater leasing flexibility.”

Successful local developers, the purchaser will be building a boutique residential complex along with commercial/retail outlets. The location offers a premium DA approval for 57 apartments, as well as three commercial/retail premises. There is further value-add potential to accommodate a childcare centre and B2 local centre zoning for a wide range of uses.


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Trent Gallagher

National Director, Property Sales & Leasing | Industrial

Sydney South

Trent has been in the real estate industry for over 14 years and in that time, he has thrived in this competitive industry and established himself as one of the most highly esteemed agents within the industry. He has honed his skills in varied markets whilst specialising in commercial and industrial properties from which he has gained immense property knowledge. Since coming to Colliers International, he has excelled across the property spectrum and has become known for his hard work becoming the leading agent in the Sutherland Shire, St George, South Sydney, South West and the Inner West markets.

Trent has been involved in some of Sydney’s most notable sale transactions which includes the old Toyota HQ at 13 Endeavour Road, Caringbah and the Qantas investment and land portfolio at Mascot. Trent has also been involved in some of Sydney’s most notable industrial and commercial leases along with notable pre-lease transactions which includes the new 18,000m Harvey Norman warehouse at Casula.

Trent continues to endeavour to be at the forefront of the industry with innovative methods in canvassing, marketing and strategic sales. He strives to actualize the goals of his vendors and work hand in hand with prospective purchasers to ensure all parties achieve the best result efficiently.

Trent takes personal pride in his responsibilities to his clients and delivering service excellence across a variety of situations with his experience and knowledge to recognise and assess any industrial, commercial, retail or residential development site requirement. His assembly of long term clients is a testament to his commitment to his work and ensuring he delivers the best result every time.

 

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