Greenacre shops fetch $14m
A row of six commercial properties all up covering 1810 square metres, in central Greenacre, has sold.
The buyers of 163-171B Waterloo Road, Greenacre, High Vision Developments Pty Ltd and HMJ Developments Group Pty, outlaid $14 million.
Zoned E1 Local Centre, the properties were marketed for their potential to yield 20 metre residential buildings.
Any redevelopment would offer views of the city 14 kilometres away (continues below).
Based on the potential income – $699,000, mostly from nine retail tenancies – the deal is being struck on a five per cent net yield.
Strathfield Partners’ Robert Pignatar, Elie Semrani and Jian-Sheng Wu were the agents.
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