Historic Caringbah property hits the market for the first time

A private family has listed its Caringbah commercial property after 65 years of ownership.

Located at 4-8 Park Lane within Caringbah’s business district, the property comprises 700sqm across three commercial freehold buildings.

The historic site was the production facility of the Shire Pictorial newspaper until 1972. Numbers 4 and 8 have been repurposed into ground-floor retail spaces with first-floor offices while number 6 continues to be utilised as a shop and storage space with offices above.

The property has potential for refurbishment or repositioning with the possibility of converting some office spaces into highly sought-after residential units.

CBRE’s Jake Hatch is managing the sale, with an auction taking place on June 4th, 2024.

“With an attractive full market rent exceeding $250k per annum along with long-standing occupants representing diverse industries, this property provides numerous lucrative opportunities. The fact that it has remained under family ownership for over six decades underscores just how outstandingly promising this investment proposition is,” Mr Hatch said.

“Positioned amidst future growth prospects due to proposed SEPP uplifts targeting floor space ratios (FSR) and height limits improvements across the region, acquiring these properties offers more than just immediate advantages but also promises substantial returns well into tomorrow’s real estate landscape.”