166 Parramatta Rd, Croydon NSW 2132

SOLD
X SqM

A substantial and iconic corner asset in the heart of Sydney’s inner west with a reasonable holding income from a National Tenant and major future development upside (STCA).

The building sat on 2,820sqm of land and was over 3,256sqm of gross building area leased to the Salvation Army New South Wales.

Boasting a substantial frontage of 9 metres along Parramatta Road the building supported shop top housing with council approvals, scheme was drafted for 48 residential units and ground floor commercial, however was not applied for nor council approved.

RESULT: With a current passing income under the lease of circa $234,000, the property sold with a yield of 2.5% gross approximately to eventually become a part of the Audi dealership showrooms/service centres.