Press Release
Auburn Westpac building sold for $5.18 million
Sydney
October 17, 2024
Media Contact
Senior Communications Specialist, Australia
A local investor has snapped up a prominent corner retail building in the heart of Auburn for $5.18 million.
CBRE’s Robert Dowdy brokered the transaction of 22-24 Auburn Road which is leased to Westpac Auburn. It’s the first time the 715sqm building has been offered for sale in 23 years.
Mr Dowdy said the property generated strong interest with more than 100 enquiries from investors, developers and owner-occupiers.
“Auburn’s proximity to the Parramatta CBD, coupled with a lack of quality investment stock available for sale in Auburn, always generates significant interest from savvy investors and developers when opportunities like this become available,” Mr Dowdy noted.
The two-level freehold building was recently refurbished and is within walking distance of Auburn Railway Station and Auburn Central.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.