Haberfield

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Almost 500 people turned out to bid on a redevelopment site in Sydney's Haberfield that eventually sold at auction for just over $13 million.
The former motel sits 2000 sqm of land at 169-173 Parramatta Road, Haberfield and was sold to a private investment company.
Ray White Commercial Inner West Principal Tim Morrison said the auction lasted for more than an hour with 461 separate bids as three buyers battled hard. 
“A final bid of $1,000 was enough to win an intense struggle with the final price of $13,003,000 well above reserve,” he said 
"The site has an approval in place for an aged care facility and offers an outstanding opportunity to re-use or redevelop (STCA). 
“This site is strategically located approximately 6.5km from the Sydney CBD with easy access to surrounding arterials including Victoria Road and The City West Link.
“There is approximately 30m of frontage to Parramatta Rd and the building offers a total area of approximately 2400 sqm over three levels.
“There is basement and onsite parking so the building offered plenty for an owner-occupier, and, alternatively, its size and prominent position attracted strong interest from motel and other accommodation providers.”
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Parramatta Road, Haberfield development site sold for $13 million

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A landmark site with redevelopment potential in the prime inner western Sydney suburb of Haberfield has been sold at auction by Ray White Commercial for $5 million.
The 1,324 square metre property at <a href="https://www.raywhite.com/nsw/haberfield/1536838/?lang=en" target="_blank">113 Dobroyd Parade</a> was sold to an owner-occupier.
The current owner had held the property for just under 20 years.
There had been 112 enquiries, 23 inspections and eight contracts issued.
“The successful buyer is an owner-occupier in the medical industry who will develop this substantial site for their new place of business,” he said.
“There is on-site parking for 20 cars while the property includes a first floor caretaker’s unit with separate access.”
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Medical premises set for $5 million Haberfield site

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A property leased to Metro Petroleum at Haberfield, Sydney has been sold for $4,800,000.
The 1151 square metre property is located at <a href="https://www.burgessrawson.com.au/buying/NSW/Inner-West/Haberfield/Retail/2P1278#.WBPd4NxJtyw" target="_blank">163-165 Parramatta Road</a> and has a new lease from 2016.
It is a recently refurbished site with new high speed bowsers that have been there for 30 years.
The property does have further redevelopment/rezoning potential (STCA) and the valuable redevelopment clause is in the owners favour with 50,000 cars passing daily.
The tenant pays all outgoings, including 100% land tax with a strong 4% annual increase with a net income of $288,000 per annum plus GST with a predicted net income of $336,919 in 2021.
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Haberfield

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