This article is from the Australian Property Journal archive
A PROMINENT site in the sought-after Parramatta Rd corridor and close to Auburn’s bulky goods precinct has hit the market for the first time in over three decades with vacant possession.
Current improvements on the 3,439 sqm site at 259/261-263 Parramatta Rd include a 2,655 sqm freestanding warehouse and office building with a ground floor showroom area and signage potential.
It has B6 enterprise corridor zoning and features three street frontages on Parramatta Rd, Junction St and Short St.
Neighbouring national and international brand heavyweights such as Costco, Harvey Norman, Bunnings Warehouse, Fantastic Furniture, Adidas and Nike are located close by.
Marketing agent Robert Dowdy of CBRE said there is the potential to develop, occupy or invest, and existing freestanding building is also ideally located to provide the brand exposure and main road location that retailers are seeking post COVID-19.”
He said exposure and location were now more important than ever for retail customers, who wanted to go into a store with ease knowing that they could touch and feel the product and then walk out with the item which they had seen on-line.
“Post COVID 19, retailers will be faced with a very different customer experience. Currently the online retail experience in Australia is behind other parts of the world, where customers can shop in-store via their mobile device.
“Retailers are seeing this as an opportunity to outperform their less nimble competitors and build a more digital, structured business for the future.”
Parramatta Road is one of the busiest commercial enterprise hubs in Sydney and has exposure over 22,000 cars passing daily, and the property is less than one kilometre to the M4 on/off ramp and within walking distance to Auburn railway station and bus stop.
“Despite the COVID-19 pandemic, buyers have shown that they are still ready and willing to purchase well situated commercial property opportunities,” Dowdy said.
