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Cold shells selling fast in North Sydney

May 29, 2018

Cold shell retail properties such as 80 Alfred Street, Milsons Point are the flavour of the month on Sydney’s Lower North Shore, according to Nick Moloney, Sales Director, Raine & Horne North Sydney.

The 152 square metre prime corner retail site with high exposure sold for $1.885 million. The sale followed hot on the heels of the transaction of a 131 sqm ground floor retail space with exposure at 156-158 Pacific Highway North Sydney that sold after auction for an undisclosed amount.

Auction clearances dropped to 62% in the North Sydney region in April, Nick noted. However, recent auction results can be attributed to April being a month of holidays that included Easter, Anzac Day and school holidays in NSW, explained Nick.

“We have a great selection of properties including vacant strata office space, tenanted strata investments and multi tenanted freeholds,” said Nick. “This includes 47a Penrose Street Lane Cove. This is a multi-tenanted commercial office building with a price guide of $4 million.”