Vision Australia sells Enfield residential development site for $35 million

ASX listed Tian An Australia Limited has purchased an Enfield townhouse site in Sydney's inner west.

The 4 Mitchell Street site comprises 12,600 square metre.

It currently houses an office building and warehouse.

CBRE’s Peter Vines, Victor Sheu and Nick Tuxworth sold the property on behalf of non-profit organization, Vision Australia, for $35 million.

It attracted 26 expressions of interest from local, national and overseas property developers.

“We were expecting around $28 million for the property but the result at $35 million further underpins the need for quality residential development sites, especially in markets with little competing stock,” Vines said.

Vision Australia will stay in the property until late 2017, allowing time to decide where to relocate.