The former owner of industrial equipment manufacturer Quality Tool & Die NSW has sold their company’s long-time property for $3.21 million.
The 1,910sqm site at 95 Percival Road is currently leased to packaging firm Orora Group, with the sale price reflecting a yield of 3.43 per cent.
Orora Group moved into the property upon Quality Tool & Die NSW’s owner’s retirement, on a lease running to October 2022, with the former toolmaker retaining ownership of the building.
The private buyer plans to eventually occupy the site, which has frontages on Percival Road and Woodpark Road and a freestanding 850sqm warehouse.
Zoned IN1 General Industrial, the property is just off the Cumberland Highway, and south of the Great Western Highway and M4 Motorway.
CBRE’s Janet Joljian managed the sale campaign on behalf of Quality Tool & Die, with seven registered bidders contesting the auction.
“This property attracted substantial interest from owner occupiers, developers and investors, which reflects the strong demand and lack of supply for purchase opportunities across western Sydney,” he said.
The industrial equipment manufacturer property sale comes as Wholesale foods supplier B&E Foods has expanded its footprint after acquiring a one-time Ingham’s turkey processing site in McLaren Flat.
The 323 Foggo Road property was last sold in 2017 to Adelaide businessman Troy DeYoung, who has spent the ensuing period restructuring and cleaning up the site and resolving various boundary and title issues.
With that process complete, he has on-sold the site to B&E Foods in a deal negotiated by Phil Schell, of CBRE’s Agribusiness team.
“This presented an ideal opportunity for B&E to acquire a large scale, multi-use facility located at the heart of the McLaren Vale food and wine region to expand its wholesale food supply operations into South Australia,” Mr Schell said.
The circa 4.21ha land holding includes a modern, 2,310sqm processing plant, numerous cool rooms, freezers, temperature-controlled processing areas and dry good storage space.
It has extensively developed hardstand areas, four loading bays and a rear canopy. It also features a 270sqm sales and administration building, a large 520sqm workshop and waste-water treatment and 43 car parking spaces in a purpose-built car park, along with additional areas for parking as required.