NGFarah secure $17.65 million Mascot site sale
A site in Mascot has been sold by NGFarah for $17.65 million, their biggest sale of 2018.
NGFarah agent David Lee sold the 571-573 Gardeners Road property.
The Mascot site was a brick two-storey retail office building with rear storage yard and metal fabricated workshop, on 2,789 sqm.
There are no indication of any plans for the site that last sold at $4.4 million in 2011.
It was once Ascot Car Rental.
Recent Mascot site sales have included Raine & Horne Commercial selling 10-12 Sarah Street, some 545 sqm, for $3.64 million.
It sold to Pro-Invest Australian Hospitality Opportunity Pty Limited, which had paid $12 million a month earlier to secure 2-6 Sarah.
Earlier this year 253 Coward, a 4000 sq m located on the corner of Kent Road across from Meriton's new Mascot retail precinct, sold for $24.2 million.
It was bought by interests associated with Daniel Tartak, Mark Tartak, Daniel Girgis and Matthew Abrahamian.
The site was once owned by TNT Australia.
Mascot's biggest sale in 2018 was Meriton's $82 million acquisition of the three hectare site at 265 Coward.
Last month The Daily Telegraph reported Harry Triguboff's company had submitted a proposal for two 14-storey towers at 256 Coward St. Triguboff proposes 305 units with shops.
The developer is trying to squeeze more units into the exisiting approval obtained by the Nassif family.
