This article is from the Australian Property Journal archive
EIGHT of 11 commercial properties put forward for auction in Sydney have sold under the hammer.
The auctionworks even had two properties withdrawn and one was passed in.
The sales included:
– Shop 16, L1 368 Sussex St, Sydney – 29sqm retail/office space on the upper ground floor of the Pacific Trade Centre sold by Ray White City South for $255,000, returning $1,595 per month including GST.
– 492 Parramatta Rd, Petersham – Vacant shop and four-bedroom residence sold for $1.071 million by Raine & Horne Commercial South Sydney/Marrickville.
– 157-161 William St, Granville – 1,969sqm corner development site over two titles sold for $3.76 million by Raine & Horne Burwood with DA approval for a boarding house facility incorporating 39 self-contained rooms.
– Shop 2, 96 Alfred St, Milsons Point – the 56sqm shop has been occupied for 17 years and was sold for $583,000 by LJ Hooker Mosman with a lease Buddy Milsons Point Convenience Store on a 3-3-year lease from September 2015 and returning $32,080 per annum net
– 48 Boorea St, Auburn – the 5,000sqm industrial site with a building area of 2,694sqm was sold by Taylor Nicholas Hills for $5.6 million.
– 28 Falcon St, Crows Nest – the hospitality investment site of 239sqm is leased to The Foxtrot Inn on a five-year lease with two five-year options and a 3am liquor licence, returning $93,000 plus GST per annum with 4% annual increases. It was sold by LJ Hooker Mosman for $1.865 million.
– 3/92-94 Seville St, Fairfield East – the 479sqm industrial site with office space and on-site parking was sold by Taylor Nichols Hills for $650,000.
– Suite 504/49 Queens Rd, Five Dock – top floor 332sqm office space with potential to be divided into two offices was sold for $1.501 million by Axiom Property Management & Services
Australian Property Journal
