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[1 Aug 2009 | No Comment | 41 views]
Industrial property booms in west as all Rhodes lead to Ikea

MORE than $50 million has changed hands in industrial deals in Sydney’s western corridor in recent months, including by the furniture retailer Ikea.

The giant, do-it-yourself furniture group bought a large industrial property in Rhodes for a new customer pick-up centre. It comes as the food retailer Costco also looks to expand, recently gaining approval to develop a site at 15-21 Parramatta Road, Auburn.
Cameron Grier, the managing director of CB Richard Ellis, Parramatta, and Tony Durante, associate director of Colliers International, negotiated Ikea’s purchase of the site at 1-5 Leeds Street, …