Warehouse converted shop, gym fetches $13m
A prominent two level warehouse converted retail investment in Sydney’s inner south west has sold for a speculated $13 million.
The result for the 1092 square metre property on 814 sqm, 115 Avoca Street, Randwick, reflects a c4.7 per cent yield.
Pet-O occupies the ground floor while a gym rents upstairs.
Zoned E2 Commercial Centre, near the Alison and Belmore road shopping strips, the parcel holds significant development upside, with proposed controls of 18 metres.
Residential could be considered offering views to Bronte and Coogee, One Commercial agents Arland Domingo and Ben Byford said.
The asset previously traded in late 2021 for $10m.
Randwick is about six kilometres from Sydney’s CBD.
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