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The South Sydney industrial market continues to show strength. Image – Canva
  • 10,100 sqm site enters market amid high demand for industrial property in South Sydney
  • The potential for development has been highlighted by Savills who are managing the sale
  • The new addition to the market offers dual street frontage

A 10,100 sqm site has hit the market in Sydney’s industrial suburb of Mascot with price expectations exceeding $90 million.

20-28 Ricketty Street is located in the South Sydney industrial hub, a tightly held property market.

Prime net face rents have risen more than 20% in South Sydney over the six months to April according to a Cushman and Wakefield Sydney MarketBeat Reports. Industrial tenants now pay an average of $216 per square metre per annum.

Savills has been appointed to market this parcel which they believe is a major urban infill development opportunity with the 10,100sqm site having the potential to accommodate a GLA of approximately 30,300 sqm.

The rare B7 zoning of the site, in particular, is likely to garner attention from developers. The only other significant sites with this zoning are owned by major institutional investors, including Dexus and Goodman.

The 3:1 floor to space ratio and 44-metre height limit opens the site up to an array of potential uses.

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The site is being marketed through an expressions of interest campaign. Image – Supplied

The new addition to the market offers dual street frontage to Ricketty Street and Ossary Street.

Managing Director of Savills NSW, Michael Fenton highlighted the logistical convenience of the site’s location.

“This truly is a once-in-a-lifetime opportunity to secure a substantial site in South Sydney, strategically positioned between the Sydney CBD, ports and airport, with easy connectivity to major motorways including the WestConnex M8 and upcoming M4-M5 Link Tunnel.” 

Michael Fenton, Managing Director of Savills NSW

The Covid-induced surge in online retail transactions has seen substanital growth in the logistics, with more than half of South Sydney’s current occupants in the sector.

“This is a robust last-mile logistics location with an SA1 Rating of 93/100 for access to high income households within a 30-minute drive time,” said Mr Fenton.

The Expressions of interest will close at 4pm (AEST) on Thursday, 9 June.

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