Investor scores sweet biscuit site for a record $2.633 million
Media Release - 14th June, 2016
The former site of Italian biscuit manufacturer, Aurora Biscuits, located at 44 Shepherd Street, Marrickville, has sold for $2.633 million to a private investor.
“With 500sqm of land, the site has sold for the equivalent of $5,266 per square metre, a record result for Marrickville,” said co-selling agent Luke Smith, Co-Principal of Raine & Horne Commercial South Sydney/Marrickville.
Aurora Biscuits, famous for its green and red labelling, is winding down after current owner Joe Gullotto was unable to find a buyer to take over the biscuit manufacturer. The manufacturer’s products have been a regular on the shelves of independent grocers for the past 50 years.
“The factory on Shepherd Street, Marrickville is approximately 850sqm over two levels and is zoned B7 Business Park making it ideal for a wide range of reconfigurations or developments,” said Mr Smith.
The well-presented presented factory and warehouse offers front and rear roller shutter access, a goods hoist to the first floor, ample 3-phase power, car parking and a 2.3 X 2.3 m cool room.
“Located in a popular and central position just 6 kilometres from the Sydney CBD, this property is part of a rapidly evolving precinct that is attracting food providores, micro-breweries, bakeries, marketing agencies, coffee roasters, gyms and cafes, in addition to the district’s traditional industrial tenants,” said Mr Smith.
“In the week leading up to the sale, we fielded offers from 8 genuine buyers and the sales result indicates yet again that the Inner West industrial market is particularly strong with demand significantly outstripping demand.
“Indeed high demand has seen industrial prices rise by 20% over the last 12 months.”
For more information about the commercial sales and leasing markets in South Sydney and the Inner West, contact Raine & Horne Commercial South Sydney/Marrickville on 02 9572 8855.
For further media information contact:
Luke Smith, Director, Raine & Horne Commercial South Sydney/Marrickville on 0416 281 577