Cromwell, Sandran trade west Sydney office
Sandran has increased its footprint at Penrith, picking up an A-grade office near other assets it controls, for c$48 million, reflecting a circa seven per cent yield.
Cromwell was the vendor; it paid c$30m for 2-6 Station Street in 2013.
With 8437 square metres over seven floors, it was purpose built for the state government in 2008.
That tenant still occupies on an agreement expiring in 2028.
The asset also includes 121 basement car parks.
The site spreads 2501 sqm (story continues below).
Sandran invests again in Penrith
Westfield Penrith – with 320 retailers – and the suburb’s train station are across the road.
Sandran also owns an Australian Taxation Office backed investment on Henry Street, and a 1.15ha commercial development site on Belmore.
CBRE’s Kenny Duncanson and Michael Andrews with JLL’s Mitch Noonan and Sophie Tieman represented Cromwell.
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