Coles Earlwood sells for $28.72 million, smashing reserve by $5.5 million

Coles Earlwood sells for $28.72 million, smashing reserve by $5.5 million
Staff reporterMay 23, 2018

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.

Editor's Picks

Half of apartments snapped up in Setia's Atlas Melbourne skyscraper
Sherpa expands Palm Beach footprint with Flourish Ovana plans
TOGA’s Wicks Place brings Harris Farm to Marrickville
Bradmill Quarter: Bringing community and amenity to life in Yarraville
Orchard Piper secures $20m record-breaking penthouse sale at One Toorak Place