This article is from the Australian Property Journal archive
ADJOINING Marrickville commercial properties with seven tenancies and offered in one line have sold under the hammer for $5.725 million.
The 576 sqm site takes in 437 and 439 Illawarra Road, on the corner of Warren Road, and changed hands with a B2 Local Centre zoning, providing potential for a multi-level mixed-use apartment development.
Number 437 includes one retail tenancy and three units, while number 439 has two retail tenancies and a rear workshop for a total floor area of 500 sqm. The combined return is currently around $177,500 per annum plus GST.
Nicholas Smith of Raine & Horne Commercial marketed the property, which was auctioned by David Scholes of Auctionworks.
Australian Property Journal
