This article is from the Australian Property Journal archive
ALMOST $3 million worth of commercial properties were sold this week via auction in Sydney, with buyers gravitating towards bargain investments.
The most affordable sale was of a 120 sqm boutique office and showroom property at 180 Canterbury Rd Canterbury, 20 minutes from the CBD. Real estate agent Taylor Nicholas Bankstown’ Michael Hatz sold the property under the hammer for $460,000. Hatz said the vacant property was an entry level acquisition and will suit many businesses as it is located next to Canterbury train station.
The Taylor Nicholas North Shore agency sold retail property at 328 Pacific Hwy Crows Nest for $1.2 million. Agent Kellie Tattersall sold brick freehold building which comprises a retail shop on the ground level and office space on the first floor totalling 396 sqm as well as two undercover car parking spaces, on a land area of 222.2 sqm.
Tattersall said the property is set amongst Crows Nest vibrant retail strip and was a fantastic opportunity at an affordable price with a huge upside. She added that it will suit investors or owner occupiers and has the potential to return $120,000 p.a.
Meanwhile John Hill & Co’s Gail Marshall has sold a passive investment at 13 Belmore St Burwood in Sydney’s inner western suburbs, for $1.325 million.
The two storey commercial building is multi-tenanted and comprises 173 sqm of floor space and 210 sqm of building area. It is 100% leased returning $78,905 p.a. excluding GST.
The property is a short walk to Burwood train station, Westfield and Burwood Rd café and retail strip.
Property Review
