Coles Earlwood sells for $28.72 million, smashing reserve by $5.5 million
Staff reporterDecember 7, 2020
Coles Earlwood in south-west Sydney has sold for $28.72 million, selling for well over its reserve by around $5.5 million.
The commercial property at 5-13 Clarke Street was auctioned through Damien Cooley at Cooley Auctions.
There were 49 bids from 14 registered bidders.
Bidding started at $21 million and flew past the $23.1 million reserve.
The offering was a freestanding supermarket leased to Coles and BWS Liquor.
The Coles spans 2,528 sqm and the BWS 147 sqm and they service over 25,000 people. It has a net income of $1.21 million.
It sits on a 3075 sqm corner parcel.
CBRE agent Dylan Kilner handled the marketing.