Parramatta remains resilient, despite the challenges faced by the office market in recent years, it's evident that the long-term prospects for Parramatta's CBD are promising.
The significant growth in office stock over the past decade has positioned Parramatta as Sydney's second-largest city, with a remarkable 980,000sqm of office space. The influx of new high-quality buildings has created a vibrant and modern office environment, making it an attractive destination for businesses.
In the heart of Parramatta’s thriving business district, an exceptional freehold building is being offered for sale via expressions of interest by RWC Western Sydney’s Joseph Assaf, Victor Sheu and Andrew Sacco.
Located at 28 Grose Street, Parramatta, this property presents a unique investment opportunity that combines security, prime location, and strong rental income of $192,379 p.a.
The space holds a current lease agreement with Pacific Smiles Group Limited, an ASX-listed company, ensuring a secure and reliable income stream until May 15, 2028. With no further option period, this lease arrangement offers stability and peace of mind to potential investors.
“Quality buildings of this size and calibre in Parramatta are quite rare, especially at this price point, and a secure investment gives buyers confidence in this space” Mr Assaf said.
“The property provides a secure income for the investor, ideal for future owner occupiers looking for a rare opportunity to own their commercial space or the developer interested in land banking with holding income.”
With ongoing infrastructure projects like the light rail expansion, Parramatta's accessibility is set to improve further, solidifying its status as a vital commercial hub.
The property is strategically located only 200m* to the Fennell Street Light Rail Stop, and within walking distance to Parramatta CBD, making this a convenient position in close proximity to an array of amenities and facilities.
The property will be offered for sale via Expressions of Interest, closing Wednesday, October 25, 2023 at 3pm.
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