Western Sydney commercial site in Fairfield East exceeds reserve by almost $1m

Western Sydney commercial site in Fairfield East exceeds reserve by almost $1m
Western Sydney commercial site in Fairfield East exceeds reserve by almost $1m

A warehouse in Sydney’s west has sold for $6.5 million at auction, surpassing its reserve by $800,000.

17 Lisbon Street, in Fairfield East, was purchased by a private investor.

It comprises a freestanding 1,070 square metre warehouse on a concreted site area of 5,574 square metres.

CBRE’s Elijah Shakir and John Tsoutsa managed the campaign and sold the site with a 12-month lease-back to Carways Pty Ltd at an annual net rental of $280,000+GST.

“The listing offered an array of options to developers, investors and owner-occupiers,” Mr Tsoutsa said.

“Bidding at the auction was incredibly competitive and resulted in the property selling for $800,000 above its reserve.”

In October of last year a commercial property on Seville Street, in Fairfield East, sold for a suburb record of $8.1 million.

Tags: 
Commercial Property Fairfield East

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