South west Sydney showroom fetches $29m
A sprawling gym turned showroom in south west Sydney – the site of a high-profile underground murder in 2018 – has traded between private investors.
At Rockdale, 395 West Botany Street collected c$29 million – a 6.4 per cent passing market yield.
With 3816 square metres, Repco is the anchor, paying c$443,000 annual rent on a new five year lease.
A 2832 sqm tenancy – 74 per cent of the area – is vacant.
The site spreads 7206 sqm also facing Lindsay St and Rockdale Plaza Drive, with 123 car parks.
395 West Botany Street
The seller of 395 West Botany St paid Australian Unity $22m in late 2018.
Earlier that year, ex-Comanchero national president Mahmoud ‘Mick’ Hawi was gunned down in the car park.
Fitness First only recently moved out.
Colliers’ Trent Gallagher and Edward McFarland brokered the sale.
Five offers were received following a public campaign, for private sale.
AU paid $14m in 2006.
Rockdale is about 13 kilometres from town.
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