Eastwood

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A 635 sqm site in the Sydney suburb of Eastwood has sold at auction through Ray White Commercial for just over $3 million. 
The property, 22 East Parade, Eastwood, was sold to a private Chinese investor on behalf of a charitable organisation for a yield of 2.0 percent. 
Jeff Moxham of Ray White Commercial said the property received more than 75 enquiries, almost 40 in the first week.
“More than 20 contracts were issued prior to the in-room auction with an estimated 10 purchasers attending to bid,” he said. 
“The bidding competition was strong for this investment with the purchasers holding a long term view for the property. The property benefits from 11 on-site parking spaces and a flexible existing floor plan.”
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Eastwood Sydney site sold for over $3 million

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A site in Sydney’s eastern suburb of Eastwood, already approved for residential development, is for sale.
CBRE is selling the <a href="https://www.commercialrealestate.com.au/property/179-183-shaftsbury-road-eastwood-nsw-2122-2014530729" target="_blank">179-183 Shaftsbury Road, Eastwood</a>  site on behalf of a mortgagee via an expression of interest campaign.
The development application was granted approval on 21 April 2017 for the development of 23 apartments on the 2219 square metre site.
It is zoned R4 High Density Residential.
Eastwood Public School, a local retail precinct, Eastwood Town Centre and the Eastwood train and bus interchange hub are noted by marketing as being beneficial.
<img src="https://www.urban.com.au/images/2018/8/16/Eastwood%20block%202.JPG" alt="">
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Eastwood residential development site in mortgagee possession for sale

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Ray White Waterloo business owners Eric Wei and Edwin Wang have just expanded and launched their second location in Eastwood in north-west Sydney, teaming up with local powerhouse Wen Huang as the third principal.
The team are set to take the Eastwood region to the next level, just like he has done with their Waterloo office over the past 18 months.
The team also have further expansion plans on the horizon, with the third office in Norwest set to open later this year.
“Opening our second and third office locations was inspired by the rapid growth in the area and our own local knowledge of the region,” Mr Wang said.
“Eastwood is full of opportunity, with lots of development already underway, so we are really keen to bring our real estate services to the local community.”
Some 18 months ago, the team of property and finance professionals joined forces to make their real estate dream a reality, in Sydney’s diverse inner-city suburb of Waterloo. 
Mr Wei and Mr Wang, both with finance experience in Shanghai and Sydney, shared a common goal of opening a Ray White office. 
“We always knew  Ray White was going to be the best fit for us, once we finally opened our own office in Waterloo,” Mr Wang said.
“We wanted to pair our knowledge of the asian buyer and vendor market, with the strongest local brand in real estate, and the corporate team have been incredibly helpful in guiding us through running a business.”
Since they opened their first office, the team built up their sales and property management business. 
The pair have worked together on and off for many years, mainly in off the plan project sales for big names in the Sydney development sector. They also have particularly strong experience and interest in the Eastwood region and its surroundings. 
“The Ryde and Macquarie areas have gone through the roof with real estate and development in the past couple of years, and the Eastwood region is performing just as well,” Mr Wei said.
Eastwood is 17km north-west of the Sydney CBD and is known for its cultural diversity and attraction of the Chinese community, with about 800 apartments due for completion over the next couple of months.
“There is a really interesting mix of house and commercial activity in the Eastwood area, with lots of shopping and services at everyone’s doorstep,” Mr Wang said.
“I have lived just nearby in Rhodes for the past six years, and Eastwood has always been the go to place for grocery shopping, and beautiful homely restaurants and eateries.” 
Alongside Eric Wei, Edwin Wang and Wen Huang, a team of 11 experienced property management and sales professionals will be joining them.
“We believe our own cultural background and resources put us in a great position to service the area well.”
“We already have a good feel for the area, and are looking forward to thriving under such a strong family name in the business” Mr Wang said.
Over the next 12 months, the main goal for the team is to increase market share, build a strong rent roll of over 200 properties and establish their new office as the go-to for all real estate requirements in Eastwood and its surrounds. 
Ray White New South Wales CEO Andrew McCulloch welcomed the expanded team to the network.
“The team at our new Eastwood office are a natural fit to take the real estate market in this region even further,” Mr McCulloch said.
“We’re delighted to have seen their incredible progress with their first office in Waterloo, and  look forward to supporting them as they continue to grow now in the Eastwood region as well.”
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