Prominent Corner Site Sold for $1.25 Million
A corner site with huge exposure to Sydney Road and redevelopment upside (STCA) at Fawkner in Melbourne’s north has been sold by Ray White Commercial for $1.25 million.
The partially leased property at 1110 Sydney Rd, Fawkner, was sold to an owner-occupier by Ray White Commercial Vic-Nunawading Director Brett Diston on behalf of a private owner.
Brett Diston said there was keen interest in the Sydney Rd site, which consists of nine titles on a land area of approximately 1015 sqm.
“We had strong inquiry about this unique corner site with irreplaceable exposure to Sydney Rd,” he said.
“The nine titles allow flexibility with the next owner able to occupy for now or develop (STCA).
“The rear factory facing Lorne Street is currently leased on a new three year lease with a further term of three years at $26,450.
“The total building area on the site is approximately 290 sqm and the property is zoned industrial 3.”
The site is approximately 11km north of the Melbourne CBD and close to the Metropolitan Ring Road.
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