Swan Street Office Showroom with Development Potential Sells

The double storey building includes a 350 square metre showroom on the ground floor, a 350 square metre office on the second floor and separate warehousing, storage and car parking to the side rear. It is located near the Burnley Street exit of Citylink, and Barkly Gardens.

Formerly occupied by floor tile retailer The Olde English Tile Factory, the building was sold by the Sydney-based owner occupier with vacant possession.

Teska Carson selling agent Michael Taylor, who sold the property with Ian Price, said the property will be put to the market for lease.

“The sale price demonstrates that people are prepared to bid for vacant properties at the minute, knowing the strength of the leasing market for that type of property,” said Mr Taylor. “There’s a lot of money out there and buyers are starving for stock.”

He said on a fully leased basis, the property sold on a yield of 5.8 per cent.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.