Ex-Siemens office bought for Chinese car dealership
A Lower North Shore office for years owned and occupied by Siemens has sold to a Chinese EV dealer.
The 1125 square metre E3 Productive zoned holding at 383-385 Pacific Highway, Artarmon, cost $11.1 million.
The vendor was a private investor which outlaid $6.5m in 2017.
Siemens sold it for $2.5m in 1998.
The deal comes a week since realestatesource.com.au reported BYD expanded into two properties, in Sydney and Melbourne.
Another Chinese auto deal
With 2325 sqm and 40 parking bays – and the ability to showcase 70 cars – 383-385 Pacific Hwy is in a car showroom precinct near dealerships for Omoda and Jaecoo, (premium Chery brands), run under the Alto Group banner.
Deepal and Foton (both represented in Australia by Inchcape), BYD, Geely and Leapmotor also trade in the immediate area.
X Commercial’s Alex Bennett was the agent (continues below).
The property was offered vacant.
The deal comes a week since realestatesource.com.au reported a dealer paid $8.9m for a suburban Melbourne office, for a BYD EV dealership.
383-385 Pacific Highway
Artarmon is about seven kilometres north of Sydney’s CBD.
“The property is positioned on a high-profile site within Artarmon’s tightly held commercial and automotive precinct,” Mr Bennett said.
“The property benefits from extensive exposure to the Pacific Hwy and convenience access to the Sydney CBD and surrounding North Shore markets,” he added.
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