Silverwater industrial park commanding some of Sydney's highest rental prices

The Silverwater industrial park is starting to command some of the highest rental prices in Western Sydney, following a spat of recent leasing deals.

Select Fresh Providores Pty Ltd has committed to a 10-year term on a 1,125 square metre office/warehouse facility, at 7 Rachael Close.

The net rental was negotiated at $145 square metres annually – a $20 per square metre increase from the last time the building was leased four years ago.

In a separate deal, Audio, lighting and video service provider Lots of Watts signed a four-year lease at the industrial park for a 1,677 square metre warehouse/office property, at 18 Fariola Street (pictured below). The net rental was struck at $130 square metres annually.

CBRE's Michael O’Neill and Shaun Timbrell negotiated the leases.

The Silverwater industrial estate - owned by APPF Industrial Fund, is said to attract rents of about $10 more per square metre than the average in the area.

CBRE is expecting the strong tenant demand brought on by a multi-million-dollar revamp currently underway to drive up rents even further.

The Silverwater Industrial Estate is about 36,000 square metres in size and comprises of 18 individual tenancies.

The revamp is being undertaken in stages and is expected to be completed by late 2013, "resulting in a substantial invigoration of the general industrial area bound by Fariola Street, Slough Avenue and Rachael Close", said Mr Timbrell.