Milperra site changes hands for $52 million

July 6, 2018 by  

The Leda Group purchased an industrial site within Milperra at the price of $52 million recently.

The Leda Group paid over $50 million for the eight-hectare Milperra site because there is ample investor demand for strata units in the area. It might well be necessary to engage in a conversion process for a productive outcome to be achieved. Lennox Industrial Inc disposed of the site. A change in letterheads is usually required when businesses acquire new property.

Rob Ell is the managing director at the Leda Group. Mr Ell thinks that the site will gain in value as the government of the state ups its game in relation to infrastructure provision. Mr Ell explained:

“Most of this investment is happening within south-west Sydney.”

Gavin Bishop, a national director at Colliers International, played a major role in arranging the sale in question. There was an abundance of enthusiasm for the site. He recognises that the area of Milperra is in demand in part because of the quality of the existing local transport infrastructure. The proximity of the M5 motorway is of real significance. However, the Moorebank Intermodal Freight Terminal (MIFT) is also nearby.

Mr Bishop believes that similar deals on industrial property could well be in the pipeline. This is because he thinks that interest in schemes like this will grow. He views this is as probable because of increasing land scarcity going forward.