Media release - 18th December, 2014
A prime commercial property in the inner Sydney suburb of Marrickville sold today under the hammer for $2.4 million.
Selling agent, Luke Smith, Director of Raine & Horne Commercial South Sydney/Marrickville, said that a private investor paid $400,000 above reserve to secure the three-storey freehold building, which sits on a 196 square metre block at 249 Marrickville Road, Marrickville.
“The auction attracted nine motivated bidders and the result demonstrates that any retail building in Sydney’s Inner West with the potential for improvements or residential conversions is in red-hot demand,” said Mr Smith, who sold the property on behalf of the Hatzopoulos family.
The property provides approximately 430 square metres over the three levels, with the ground floor retail shop currently vacant. The ground floor space also comes with a large double lock-up garage of approximately 30 square metres that can be accessed via a rear lane.
The first and second floors of approximately 160 square metres each are leased to monthly tenants including a dance school – Majestic Performing Arts – and a private music school.
For all your commercial sales and leasing requirements 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
Our full-service commercial real estate network can provide in-depth knowledge of local and regional property markets, with insight and understanding that comes from being a part of a long-established national and international property group. Committed to personalised service and achieving unsurpassed results, our clients continue to benefit from our network strength, which allows substantial cross-flow of international referral, advice and investment.
The Raine & Horne Commercial network is comprised of 100% owner-managed offices and includes numerous industry leaders and award winners. We employ agents who are empowered, encouraged to share and who maintain first rate communication to deliver the best possible outcome with every transaction. We pride ourselves on staying abreast of local and national trends and developments in the property industry, resulting in consistently cutting-edge services and holistic solutions for our clients.
Our industry experts embody and respect the family-oriented values synonymous with the Raine & Horne Commercial brand, allowing us to provide a complete range of professional services for all aspects of commercial, industrial, retail sales, leasing and specialist properties.