The owners of yoghurt manufacturer Ruby and Roy’s have sold the company’s production facility in Smithfield for $8.2 million plus GST, as they head into retirement.
The 4,546sqm property at 98 Long Street features a 2,406sqm building with cold storage, and has been purchased by an owner-occupier pharmaceutical group, with the price reflecting a building rate of $3,408/sqm.
Long Street runs onto the Cumberland Highway, and is roughly 10 minutes from the M4 Motorway and Great Western Highway.
CBRE’s Janet Joljian and Elijah Shakir managed the off-market sale campaign on behalf of the family-run Fab Fresh Bros.
“With a severe shortage of industrial property for sale and limited supply available we had substantial interest from owner occupiers, developers and investors,” Joljian said.
“That is reflective of the continued strong demand across Western Sydney, and in this case the site was perfectly suited to the pharmaceutical group buyer.”
Source: CBRE Australia