This exciting investment opportunity at Eastwood in Sydney’s north-east has been sold at auction by Ray White Commercial NSW for $3.068 million. The sale represents a 2% yield.*

The approximately 635 sqm site at 22 East Parade, Eastwood, was sold under the hammer to a private Chinese investor by Jeff Moxham and Samuel Hadgelias of Ray White Commercial NSW on behalf of a charitable organisation.

The site was subject to fantastic interest with over 75 enquiries on the site, nearly 40 of which were received in the first week. A number of the prospective purchasers were locals demonstrating high demand for investments in Eastwood’s very tightly held market and for investments generally.

Over 20 contracts were issued prior to Auction with approximately 10 bidders on the day.

We property is ideally located in Eastwood and boasts the following highlights:
• 300m* to Eastwood Station and shopping centre
• Site area 635m2* with 11 on-site parking spaces
• Current income $65,000 p.a.*
• 3 + 3 year lease, commencing 11 July 2015
• Zoned R2 Low Density Residential
• Potential for redevelopment (STCA)

Sales Analysis*
Sale Price:$3,068,000
Zoning:R2 Low Density Residential
Municipality:Ryde Council
Site Area:635m²*
Net Lettable Area (NLA):695m²*
Net Income (per annum):$65,000*
Parking:Secure car parking for 11 cars
Passing Yield:2.1%
 
Sales Process:  
Sale Date:2 August 2015
Sale Type:Public Auction
 
*Approximate