Wanting to buy a warehouse in inner west of Sydney

I have been looking for purchasing a modern high clearance warehouse close to Strathfield South, Sydney for almost one year, but I cannot find any suitable one. Why is the stock so tight in the market? I have been in touch with many commercial agents and search common commercial estate website every day. I am very frustrated since my current lease will be expired soon and I do need a bigger place to expand my place.

Is there any other way that I can find some properties off the market?

 

Hi Chris, what size warehouse are you looking for?

Prices have almost doubled in the past 3 years in Sydney Industrial market - why don't you consider leasing something larger for a few years? If you do manage to find a suitable property you'll end up paying a premium in this market... Better off waiting for a correction.

 

You might consider using a Buyers Agent who specialises in Inner West commercial property. They often get off market properties offered to them from vendors directly (who want to save a selling agents commission) as well as from their agent contacts.

 

Thanks for your reply.
I am looking for 1000-2000 sqm. Yes I notice the price increase of the market. The reason why I want to buy one rather than lease one is because the rent is also too high. For example, lease a free standing warehouse of 2000 sqm (or a unit from Goodman) will cost at least $150-170 per sqm plus outgoing of $30-40 per sqm annually. Annual review rate will be 4%. So in my understanding, buying a warehouse at $3000-$4000 per sqm will be better than lessening.

 

I did but the buying agent could not find any stock neither.

 

Have you considered getting some much bigger than you need and leasing some/half of it out and sharing it? Might help expand the possibilities.

 

No for the sake of security and privacy, I do not want to share with other people.

 

As per @Westminster
Buy something larger and develop
Surely there are large buildings that can be subdivided