Sydney’s inner west industrial market remains highly sought-after after one of Campbelltown’s last remaining industrial-zoned sites sold for $11 million. 

A business in the concrete industry bought the 8,095 sqm property at 62-64 Blaxland Road from a private vendor, representing a land price of $1,358 per sqm. 

The property featured a 62m frontage to Blaxland Road and offered easy access to the Hume Highway. 

CBRE’s Robert Dowdy, Tom Rourke and Adam Tresidder managed the sale. 

“Parcels of industrial land of this size and near major arterial roads are scarce, and this was underlined by the demand we fielded from owner occupiers, investors and developers,” Dowdy said. 

“Despite interest rates rising, buyer enquiry has remained strong, with parties ready and willing to secure industrial assets in growth areas.” 

Sydney had the world’s lowest industrial vacancy rate for a city at 0.3% during the first half of 2022, according to CBRE research.  

In H1 2022, Australia also had the world’s lowest industrial vacancy rate for a country at 0.8%, down from 1.3% in H2 2021. 

In Sydney, super prime grade rents rose 23% year-on-year to the end of June, while rents across Australia rose 13% on average. 

Recent Sydney industrial deals include Hannas’ purchase of a vacant infill site close to Westmead Hospital in Northmead area for $13.5 million last month.  

Prior to that, Chess Engineering sold its long-time base at 101-103 Fairford Road, Padstow in Sydney’s southwest for $18.93 million, while an industrial facility in St Mary’s in Sydney’s west sold for $24.5 million last month. 

In May, Ramo purchased an industrial property in Milperra in a deal worth $27 million.     

Hines acquired four logistics properties in Sydney’s Chullora, South Granville and Emu Plains, as well as Brisbane, from Pipeclay Lawson for $211.5 million in April, while Coombes Property Group bought an industrial landholding in Botany for $25.25 million.