Local bidder scoops buyers at Dairy Bell auction
A former Dairy Bell Ice Cream factory in Sydney has sold at auction for $5.75 million.
The iconic two-storey building in Camperdown was tipped to attract bids starting at $5.5 million and drew intense interest from residential developers, with the site earmarked for potential conversion.
Sold by Savills to a local buyer, it features an internal floor area of 1262sqm on an 892sqm parcel of land, with street frontages on both Gibbens Lance and Australia Street.
Savills agent Stuart Cox says the price reflects how competitive the market is for sites with residential development potential.
“Over the campaign we had strong interest from commercial and industrial owner occupiers, boarding house operators but mostly residential developers looking to convert the warehouse into boutique apartments or terraces,” Cox says.
“As demand for Sydney’s inner west continues to grow the area has become a playground for developers looking to invest.”
The sale marks the end of another chapter for Dairy Bell, after the company’s founders and directors Andrew Razums and John Stanford in February announced they were shutting the business down after 42 years.
The shop at the Camperdown factory closed its doors in March, however some of the brand’s other stores won a reprieve in late February when fellow ice cream maker Bon Appetit Australia bought the company and five of its Melbourne shops.