ISSUE 193 | JULY 2026 | 02 9630 8000 WWW.BAWDENS.COM.AU I N D U S T R I A L Industrial Space Demand Survey The Sydney SME Industrial Rental Survey 2026 Industrial Vacancy Review 2026 Industrial Incentives Review
INSIDE THIS ISSUE OF INDUSTRIAL PROPERTY NEWS Bawdens identify which building sizes have experienced continued demand from SME businesses. ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 2 MARKET INSIGHT SPECIAL Industrial Space Demand Survey Bawdens is one of Sydney’s leading corporate property agencies. In recent editions of Industrial Property News, we released the results of our Vacancy Review and Rental Surveys, which can be found on pages 4 and 9. In this edition, we identify which building sizes have experienced continued demand from small and medium enterprise (SME) businesses from 1 July 2023 to 30 March 2026. Spanning 370 transactions involving buildings with an area of less than 1,000m², the findings can be seen in the graph below. Perhaps not surprisingly, 47% of all transactions had a building area of less than 300m², with only 6% of all transactions analysed having a building area of 700m² or greater. The findings reflect the built environment, indicating that industrial spaces below 300m² experience greater demand from SMEs than buildings with areas of 500m² or more. Joumana Tarabay: Director Asset Management, Jack Perkins Director, Robert Ally: Director and Terry Saba: Director
As Real Estate Agents and Property Asset Managers, we conduct ourselves based upon a commitment to our vision to simplify, adapt, lead and grow our corporate property services. Our mission to connect people, organise, maximise and transact corporate property has meant as a group of professionals we have continued to thrive. The reason we continue to be a growing company today is because we remain aware that our purpose is to proudly protect our clients and earn their honest appreciated trust and friendship. VISION To simplify, adapt, lead and grow our corporate property services PURPOSE To proudly protect our clients and earn honest, appreciated trust and friendship MISSION We connect people, organise, maximise and transact corporate property VALUES Integrity, Passion, Leadership and Trust Our Why’ Story ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 3 BAWDENS NEWS Prime Castle Hill Industrial Investment with Strong Income & Long-Term Upside Bawdens is pleased to present 15 Carrington Road, Castle Hill to the market for sale via Private Treaty. Offered on behalf of our valued client, this substantial industrial complex comprises 10 strata units totalling approximately 5,284m², situated on a significant 1.355-hectare site within the tightly held Castle Hill industrial precinct. Strategically positioned in one of Sydney’s most sought-after industrial locations, the property is being offered at a time of exceptionally limited supply of industrial business parks with established tenancy income streams in core industrial precincts. The asset provides a strong current passing income of approximately $1,280,355 per annum net, plus GST and outgoings, presenting investors with a rare opportunity to secure a high-performing industrial holding with long-term value and income security. For further information, please contact Bawdens Consultant Barry Johnston on 0412 606 030 or Bawdens Managing Director Barry Cawthorn on 0417 288 975. FOR LEASE Eastern Creek 4099m2approx. Premium Freestanding Warehouse • Fully sprinklered clear span warehouse • Container and truck access • Quality office • Fully secured site • 44 parking spaces on-site Terry Saba: 0416 175 009 Victor Zerefos: 0416 047 288 Leasing or buying Leasing Buying 38% 62%
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 4 Norwest Arndell Park Rouse Hill Wetherill Park Newington Castle Hill Seven Hills Yennora Silverwater Vineyard Bawdens Deals Done LEASED BY LEASED BY SOLD BY SOLD BY LEASED BY SOLD BY SOLD BY LEASED BY LEASED BY SOLD BY MARKET INSIGHT SPECIAL The Sydney SME Industrial Rental Survey Bawdens is one of Sydney’s leading corporate property agents specialising in providing investors and small and medium enterprises with the very best insights to help them make quality commercial decisions today. In this issue, we identify what net face rentals were actually obtained across a sample of transactions totalling 180,000m² for the financial years 2024, 2025 and 2026 to date. The result can be seen in the table below. The research reveals that net face rentals have demonstrated resiliency for small and medium enterprise space (that is space with an area of less than 750m²), with average rentals in 2026 for the year to date climbing from $196 per square metre in 2025 to $208 per square metre, an increase of 6% year on year. However, net effective lessor cash flows have been compromised in 2026, with average rent-free incentives increasing from 1.1 months in 2025 to 1.8 months in 2026, an increase of 36% year on year (refer to our 2026 Industrial Incentives Review study on page 12 of this edition of Industrial Property News). The Sydney SME Industrial Rental Survey Bawdens is one of Sydney’s leading corporate property agents specialising in providing investors and small and medium enterprises with the very best insights to help them make quality commercial decisions today. In this issue, we identify what net face rentals were actually obtained across a sample of transactions totalling 180,000m² for the financial years 2024, 2025 and 2026 to date. The result can be seen in the table below. The research reveals that net face rentals have demonstrated resiliency for small and medium enterprise space (that is space with an area of less than 750m²), with average rentals in 2026 for the year to date climbing from $196 per square metre in 2025 to $208 per square metre, an increase of 6% year on year. However, net effective lessor cash flows have been compromised in 2026, with average rentfree incentives increasing from 1.1 months in 2025 to 1.8 months in 2026, an increase of 36% year on year (refer to our 2026 Industrial Incentives Review study on page 9 of this edition of Industrial Property News). 192 196 208 190 192 194 196 198 200 202 204 206 208 210 2024 530m² 2025 505m² 2026 425m² Average Net Rental Year and Average Building Area
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 5 FOR SALE Castle Hill 5,424m2 approx. Landmark Industrial Opportunity • First time offered in 38 years • 10 functional high clearance industrial units • Multiple value-add strategies • Exceptional tenant retention • Close to Metro, major arterials and key infrastructure Barry Cawthorn: 0417 288 975 Barry Johnston: 0412 606 030 BAWDENS ASSET MANAGEMENT Delivering a Seamless Make Good Outcome Bawdens Director Joumana Tarabay recently negotiated and project managed a make good project valued at approximately $40,000 on behalf of a commercial tenant, ensuring all obligations under the lease were satisfied while protecting the interests of both the tenant and landlord. From coordinating contractors and managing timelines through to overseeing budgets and final completion, Joumana ensured the works were delivered efficiently, within budget and on schedule. Her proactive communication and attention to detail enabled the make good process to run smoothly, resulting in the tenant’s bond being released without delay. Through strong negotiation, careful project oversight and a practical approach to problem solving, all parties were satisfied with the outcome, allowing the tenancy to conclude on positive terms for both the owner and occupier. Simply search ‘Bawdens_RealEstate’. Like us on Instagram • Stay informed • Find out what transactions we have just completed • Be up to date with the current market offerings Vacancy by No. of Properties Vacant Properties Managed 1.7% MARKETING Bawdens use their e-cloud technology to complete behavioural marketing that identifies the buyers or tenants who will pay the highest price or rental. We are Sydney’s only Industrial Agency utilising behavioural marketing. FOR LEASE Northmead 388m2approx. Industrial Warehouse • High clearance warehouse with potential showroom • Modern air conditioned office • Good truck & container access • Good parking on site • Easy access to main roads Terry Saba: 0416 175 009 Rohit Kumar: 0434 309 788
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 6 BAWDENS NEWS YSeven Hills Strata Unit Sells for $5,000,000 Relocating from Silverwater, Biochill Packaging has purchased 1/16 Welder Road, Seven Hills (1,211 sqm), one of a complex of three warehouses. The property features 5-metre clearance and excellent truck access. The transaction was successfully negotiated and finalised by finalised by Bawdens Director Terry Saba, and Sales and Leasing Executive Rohit Kumar. SOLD BY FOR SALE/LEASE Rouse Hill 392-1347m2 approx. Brand New Quality Industrial Premises • Quality finishes • Exclusive secured yard • Flexible E4 General Industrial Zoning • Internal clearance 8.5m to 10.5m • Excellent truck access • Climate management awning Robert Ally: 0413 758 658 Peter Pacetta: 0416 001 509 If this is something that you would also like to receive please feel free to contact Have you seen our new edition of COMMERCIAL 38% Space in demand 0-500m² 500m² - 2000m² >2000m² 36% 43% 21% AUCT ION Minchinbury 1,550m2approx. Freestander with Dual Driveways • High clearance warehouse with yard • Great truck & container access • Three-phase power with 400 amps • Auction: 18/06/2026, 11:30am at Bawdens Auction Room, Level 1, 18-20 Ross Street, Parramatta Monjer Khan: 0422 753 262 Terry Saba: 0416 175 009 YFollow us on LinkedIn • Stay informed: view our monthly Industrial Property News, weekly Market Brief and bimonthly Commercial Property News & Property Investor News • Find out what transactions we have just completed • Be up to date with the current market offerings www.linkedin.com/company/bawdens-industrial
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 7 FOR LEASE Seven Hills 127m2approx. Modern Industrial Warehouse • High clearance warehouse • Excellent truck access • Easy access to M2 and M7 Motorway Terry Saba: 0416 175 009 Daniel Su: 0415 181 411 Asset Management Vacancy Rate Office Industrial Retail 3.28% 0.59% 3.57% BAWDENS ASSET MANAGEMENT BAWDENS NEWS YSmart Move: Key Automation Secures Long-Term Future with Strategic Arndell Park Purchase Leading automation specialist Key Automation has strengthened its long-term growth strategy with the acquisition of an industrial unit at 24/70 Holbeche Road, Arndell Park. Relocating from Kellyville, the company has purchased the 235.2sqm unit to establish a permanent operational base, transitioning from leased premises into owner-occupation to support future expansion and business stability. The property was secured for $1,235,000 + GST, reflecting a rate of $5,250 per sqm + GST. The transaction was successfully negotiated and completed by Rohit Kumar and Rishad Kharadi of Bawdens. SOLD BY We currently support the following organisations: Charitable Foundation
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 8 Our asset management team can maximise the value of your asset. Lease Negotiations Rent Reviews Outgoing Audit Transaction Management Make-Good Management Simply search ‘Bawdens’ on Facebook. Like us on Facebook • Stay informed • Find out what transactions we have just completed • Be up to date with the current market offerings Vacancy Rate by m2 Vacant Properties Managed 3.4% FOR SALE Old Guildford 2,589m2 approx. Freestanding Warehouse/Office Facility • High internal clearance up to 7.8m (approx.) • Modern office/showroom over two levels • Access via 3 roller shutter doors • Dual driveway access • Excellent connectivity to major roads James Zerefos: 0400 326 828 Robert Ally: 0413 758 658 BAWDENS NEWS YSOLD BY Strategic Expansion Secures ACA Investments’ Long-Term Future in Wetherill Park In a decisive move to support its continued growth and long-term business strategy, ACA Investments has secured a substantial industrial facility at 105 Newton Road, Wetherill Park. Already operating within the Wetherill Park precinct, the company undertook an extensive search for a property capable of accommodating its expansion plans while providing long-term operational security. The acquisition of the 1,404sqm facility, positioned on a substantial 2,657sqm site, successfully met these strategic objectives. The property transacted for $8,500,000 + GST, reflecting a rate of $6,054 per sqm, further reinforcing the resilience and ongoing strength of the owner-occupier industrial market in Western Sydney. The transaction was successfully negotiated and completed by Bawdens Consultant John Tanna.
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 9 MARKET INSIGHT SPECIAL 2026 Industrial Vacancy Review Bawdens is one of Sydney’s leading industrial property agents. In the second of a two-part study, we recently released private client research identifying changes in the length of time it takes to lease a building today as compared to the same time in 2025. The research identified all buildings currently available for lease during a study period in the 2024-2025 financial year. It then adapted the same criteria for the 2025-2026 financial year. Time on market was identified from date as appointed leasing agent, ending when a lease was executed. All buildings in the study had a gross lettable area of less than 2000m². The results can be seen in the table below. To the end of March 2025, the average vacancy period was 2.9 months. To the end of March 2026, the average vacancy period was 4.6 months. Vacancy periods have increased 58% year on year, reflecting the lag between lessors not recognising the effects upon lessee businesses from slowing economic growth and consequently adjusting asking rentals in 2026. YBAWDENS NEWS YLEASED BY Tile Mountain Secures 4,680 sqm Warehouse in Auburn Tile Mountain has leased 305 Parramatta Road, Auburn - a highly exposed, secure freestanding warehouse - on a 7-year lease at a rental of $982,800 net per annum, reflecting $210 per sqm. The transaction was successfully negotiated and finalised by Bawdens Sales and Leasing Executives Jarrad Love and Monjer Khan.
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 10 AUCTION DAY No Marketing Costs* (T&C’s apply) Lower Selling Fees Higher Prices Thinking of selling? • Be part of our Auction Day Sale • Expose your property to one of the largest buyer databases in Sydney • Use our auction negotiation skills to achieve the sale price you want Register your Interest: Call 9630 8000 or contact your preferred Bawdens Agent. FOR LEASE Rydalmere 498m2approx. Freestanding Warehouse in Popular Location • High clearance warehouse • Great truck access • Well-kept warehouse • Ample parking • 100m to Rydalmere Ferry Wharf Jarrad Love: 0408 817 025 Monjer Khan: 0422 753 262 BAWDENS ASSET MANAGEMENT Unlocking Value Through Active Management and Negotiation A valued existing client approached Senior Asset Manager, Cameron De Sousa, facing an all-too-familiar problem. Their asset was underperforming, with outdated lease structures, limited oversight, and below-market rent. Initially, the property was generating $110k per annum, with most of it being spent on outgoings, leaving the owner with only $45k net per annum. Recognising the opportunity to reposition the asset, Cameron was engaged to take over the management and implement a more strategic approach. Once a detailed review of the lease and current market conditions was completed, Cameron was able to leverage strong negotiation skills with the tenant to successfully restructure the lease, gaining the client an additional $70,000 per annum plus GST and outgoings. This outcome highlights the value of proactive asset management, where experience, knowledge, and skilled negotiation can materially improve returns for clients. Barry Cawthorn: 0417 288 975 Robert Ally: 0413 758 658 If this is something that you would also like to receive please feel free to contact Have you seen our new edition of FOR SALE Seven Hills 228m2approx. Industrial Warehouse • Hi-tech warehouse • Secured site • Modern air-conditioned office • Good access into complex via Station Road and Prospect Highway • Easy walk to railway and bus station Terry Saba: 0416 175 009 Monjer Khan: 0422 753 262 Website Enquiry Real Commercial Commercial Real Estate Google Other 48% 12% 22% 18% Y
ISSUE 193 | JULY 2026 | 02 9630 8000 | PAGE 11 BAWDENS NEWS YPremium Food Supplier Secures Strategic Seven Hills Industrial Facility Chaime Ococda, a supplier of premium café products renowned for delivering bold flavours tailored to the expectations of today’s consumers, has leased an industrial premises at 1/8 Prince William Drive, Seven Hills. The 363m² duplex facility proved ideally suited to the business, offering excellent container access together with immediate connectivity to major motorways and arterial road networks, ensuring efficient distribution and accessibility for clients and customers across the region. The lease was secured on a 3 + 3 year term at a commencing rental of $74,000 per annum, reflecting $203 per sqm net plus GST and outgoings. The deal was negotiated and finalised by Bawdens Sales & Leasing Associate Director Anthony Barbanera, and Sales & Leasing Executive Rishad Kharadi. LEASED BY FOR SALE Seven Hills 176m2approx. Modern Warehouse • High clearance warehouse • Modern air conditioned office • Under cover parking • Secured complex • Owner occupier/investment opportunity Terry Saba: 0416 175 009 Daniel Su: 0415 181 411 Where it all came from Internet Bawdens IPN Signs Clients 4% 26% 21% 49% Simply search ‘Bawdens’ on YouTube. Subscribe to our YouTube • Stay informed • Find out what transactions we have just completed • Be up to date with the current market offerings For the latest media releases & market trends visit our website www.bawdens.com.au
ISSUE 193 | JULY 2026 | 02 9630 8000 Disclaimer Notice: Neither Bawdens, nor the publishers and editors of articles in this issue accept any form of liability, be it contractual, tortious or otherwise, for the contents of this newsletter or for any consequences arising from its use or any reliance placed upon it. All the information contained in this publication has been provided to us by various parties. We do not accept any responsibility to any person for it’s accuracy and do no more than pass it on. All interested parties should make and rely upon their own enquiries in order to determine whether or not this information is in fact accurate. Customised relevant marketing means maximum results. We are the only agency with real time database management. Instagram Facebook LinkedIn YouTube Simply search | PAGE 12 MARKET INSIGHT SPECIAL 2026 Industrial Incentives Review Bawdens is Sydney’s leading specialist industrial property agency. In the first of a two-part study, we recently released private client research identifying changes in rent-free period incentives granted by lessors to lessees during the 2025/2026 financial year as compared to the previous year. The research identified all lease transaction incentives granted during a three-month period in the subject year. A comparative study time and data set was also identified for the 2024/2025 financial year. All analysed transactions involved properties with a gross lettable area of less than 2000m². The results can be seen in the table below. To the end of the financial year 2025, the average rent-free period is 1.1 months. To the end of financial year 2026 (YTD), the average rent-free period is 1.8 months. Despite industrial SME space remaining at record lows, incentives in 2026 have increased by 36% since 2025. Profit margin pressure, inflation and declining productivity are impacting confidence and forcing SME businesses to reflect before acting. This is also impacting vacancy periods.
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