School swoops on adjoining offices
EXCLUSIVE
The Al Noori Muslim School has snapped up two adjoining suburban Sydney offices – only one which was being marketed for sale.
Covering 4344 square metres, the amalgamation, bound by Rickard Road, Jacobs Street and French Avenue, in the Bankstown CBD, is expected to be fit out as a campus.
The educator operates another school at Greenacre, about six kilometres west, which it has been expanding, including in 2022, with a $15.5m block on Mimosa Rd.
Some 1800 students are enrolled there, from Kindergarten to Year 12.
The Bankstown properties are costing a total $26.45m.
CBRE’s Andre Taouil and Alex Mirzaian were the agents.
Bankstown properties
Only one Bankstown office was for sale – 2 Jacobs St (story continues below).
With 2571 sqm over two floors, on 2497 sqm, it fetched $14.825m.
The neighbouring property, 4-8 Jacobs St, then collected $11.625m off-market.
On 1847 sqm, it adds 1942 sqm over two floors, and 14 car parks.
Mr Taouil and Mr Mirzaian said the deals set a Bankstown record based on price paid per sqm of gross floor area.
Zoned Mixed Use, the parcels offer significant development upside surrounded by buildings up to 18 floors.
A metropolitan activity centre, Bankstown is about 21 kilometres from town.
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