Benefitting from a high profile corner location, the 2,635sqm site comprises a freehold, two-storey commercial building and onsite car parking for 90 vehicles. The property is currently occupied by office and retail tenants.
The Salvation Army will relocate its Parramatta place of worship and community services to the property, following its divestment of three buildings on the corner of 93-95 Phillip Street and 32 Smith Street in 2016.
Mr Vines said the opportunity to secure a presence within one of Sydney’s fastest growing areas was hotly contested by a wide range of groups.
“We received more than 100 enquiries from developers and investors looking to capitalise on the continued growth of Sydney’s western corridor,” Mr Vines said.
“With Parramatta’s population expected to increase by one million people by 2031, there is fierce demand for residential and mixed use projects that support this growing region. This ultimately helped achieve an exceptional result for the site.
The Salvation Army’s Major Grant Sandercock-Brown commented on the transaction: “We’ve been in Parramatta since 1884 and have a strong commitment to serving our community, helping hundreds of people each week. We believe that the purchase of 426 Church Street will enable us to continue, and indeed grow, our ministry in Western Sydney.”
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