Sydney, 14 May 2015 – A local designer has acquired a commercial terrace with significant development potential in Waverley for $1.681million.
The unrenovated terrace, located at 326 Bronte Road, is set on a 152.40sqm site and features rear lane access, retail frontage to Bronte Road, and prime location in the heart of vibrant Charing Cross. The site further benefits from new development approval for a three bedroom luxury apartment and separate retail space.
Tony Braham of CBRE negotiated the sale on behalf of Belmore Investments.
Mr Braham said the site sold in a record two week campaign due to massive buyer demand for properties with both investment & development potential in this area.
“This boutique development opportunity is in a proven retail and apartment market, providing significant earning and investment potential.”
“CBRE also negotiated the sale of the site 12 months ago to Belmore Investments for $1.32 million, which further demonstrates the strength of the market and the investment prospects in the area,” Mr Braham said.
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
