Regents Park industrial property sells off-market for nearly $12.5 million
Katherine JimenezDecember 7, 2020
An offshore investor has acquired an industrial property in Sydney's Regents Park for $12.425 million.
The 7,827 square metre building is located at 2-6 George Young Street and was owned by vendor Abacus.
The sale price reflected an initial yield of 7.6% and equated to about $1,587 per square metre.
Colliers International's John McCann and Tony Durante negotiated the off-market transaction.
The agents said that the property was listed to go to an on market campaign with advertising booked but was sold prior.
The property is leased to Colorpak Limited until May 2021.