Going Going Gone again
|
Lachlan Hibbert-Wells |
|
| Close to $6.2 million in property was sold under the hammer this week in CBRE’s latest Going Going Gone portfolio campaign. | |
Owner occupiers led the charge, snapping up three strata units in Sydney’s west and a strata office floor within the heritage listed Tablet House office building at Pyrmont. In a fourth deal, a corner commercial property in the heart of Dee Why was sold under the hammer to an adjoining owner for $3 million.
The Tablet House strata suite at 60 Bowman Street was one of the more sought after offerings, attracting more than 34 enquiries ahead of this week’s auction.
CBRE’s Andrew Westaway and Gavin Lloyd negotiated the sale of the 477 sqm, second floor strata suite to BCA Training, who intend to relocate to the building from existing premises in Balmain.
Mr Westaway said the building was regarded as one of the best warehouse conversions in the city fringe. The unique space, which offers views over Sydney Harbour, was sold as a ‘turn-key’ solution with a high quality fit out in place including all furniture and fixtures, phone system, full kitchen facilities and data network with patch panels and data cabling.
Three car spaces on a separate title were included with the premises. The spaces are located in a security basement carpark in the building, which was originally used by CSR to manufacture sugar tablets.
”Character office space on the city fringe is continuing to attract strong buyer interest, with owner occupiers particularly active in this market,” Mr Westaway said.
According to CBRE, owner occupiers are also dominating activity at the lower end of the western Sydney industrial market. Three small units at Prestons and St Marys were sold under the hammer at this week’s auction on behalf of the mortgagee.
CBRE’s Jason Edge said multiple owner occupiers were competing for the units, with several of the prospective purchasers looking to buy through their private superannuation funds. A unit at 7 Enterprise Circuit, Prestons sold for $356,000 while two St Marys units at 4 Maxim Place were sold under the hammer for $192,500 and $190,000 respectively.
The biggest sale on the day involved 665 Pittwater Road - a two-level freehold building located on a key corner site in Dee Why. The CBRE sales agents Nicholas Heaton and Joe Parisi said an adjoining owner had acquired the retail/office property for $3 million.
The 997 sqm building is currently leased to 10 tenants but offers potential for renovation or a full redevelopment.
Related News
- Australian business owners ignore Federal Government CPRS
- Auction clearance rate reaches yearly high
- Melbourne to take office crown from Sydney
- Clearance rates slowly climbing
- Auction clearances begin to climb
- Bridge Road continues to boom
- JP Morgan to relocate
- Property investment – beginner guide to commercial property
- Understanding commercial property – office, retail, industrial
- Commercial property market to improve
Latest News
Note: the views and statements expressed are those of the author, and may not necessarily represent the views of REA Group or this site. Information on our websites and in any REA Group publication should not be regarded as a substitute for professional legal, financial or real estate advice.