A local developer has purchased a premium parcel of land in Ingleburn for $3.55 million, highlighting strong demand for industrial development sites in Sydney’s south-western suburbs.

Savills Industrial's Mick Ferreri and Darren Curry brokered the deal for Lancaster Street, Ingleburn, saying the expressions of interest campaign received substantial interest from a variety of buyers.

“The opportunity appealed to both developers and owner-occupiers who were wanting to develop the site for their own use,” Mr Ferreri said.

The property presented to market at a time when there was limited supply of industrial-zoned sites, with Mr Ferreri saying there was growing interest for development opportunities in and around the Ingleburn precinct.

“There is currently strong demand for industrial development sites, particularly small units in the west and south-west of Sydney, with a price range below $750,000,” he said.

Mr Ferreri said the purchaser was already undergoing preliminary discussions for a factory unit development that is expected to come to market soon.