Auburn Westpac building sold for $5.18 million

A local investor has snapped up a prominent corner retail building in the heart of Auburn for $5.18 million.

CBRE’s Robert Dowdy brokered the transaction of 22-24 Auburn Road which is leased to Westpac Auburn. It’s the first time the 715sqm building has been offered for sale in 23 years.

Mr Dowdy said the property generated strong interest with more than 100 enquiries from investors, developers and owner-occupiers.

“Auburn’s proximity to the Parramatta CBD, coupled with a lack of quality investment stock available for sale in Auburn, always generates significant interest from savvy investors and developers when opportunities like this become available,” Mr Dowdy noted.

The two-level freehold building was recently refurbished and is within walking distance of Auburn Railway Station and Auburn Central.