Press Release
Merrylands building sells for the first time in 45 years
Sydney
October 5, 2023
Media Contact
Senior Communications Specialist, Australia
A Sydney-based owner-operator has purchased a two-storey commercial building in Merrylands for $2.6 million, the building's first transaction after 45 years of ownership by a local accountant.
Located at 91 Merrylands Road, the 513sqm building has two tenancies, the ground floor has a passing income of $63,005 per annum, expiring June 2024 and the first floor has a periodic tenancy returning $4,000 per month.
CBRE’s Robert Dowdy managed the sale of the property which recently went to auction.
“The property was sought after with over 150 enquiries received and had 12 registered bidders on auction day. The majority of interest came from owner-occupiers such as lawyers, doctors, accountants and community groups,” Mr Dowdy said.
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.