For the first time in 23 years, the prominent corner site leased to Westpac Auburn is listed for sale.
CBRE’s Robert Dowdy said the property, which will be sold at auction later this month, was already generating strong interest from investors, owner-occupiers and developers.
“Auburn’s proximity to the Parramatta CBD, coupled with a lack of quality investment stock for sale, is driving interest from savvy investors and developers in available opportunities. We expect local, national and international bidding with buyer confidence having clearly improved since Covid,” Mr Dowdy said.
“Auburn has become a hive of activity in recent years as highlighted by two recent sales, the $129.5 million sale of Auburn Central to SCA Property Group and the Centrelink Auburn which traded for circa 3% yield.”
Located at 22-24 Auburn Road, the recently refurbished two-level freehold building is within walking distance of Auburn Railway Station and Auburn Central. The 715sqm building was purpose built and owned by Westpac until it was sold in 2001.
The property will be sold at auction, at Level 4, 10-14 Smith Street Parramatta, on Tuesday 24th September at 3pm.
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