Eight sites along Parramatta Road in Sydney’s west have changed hands for a total of $41,805,000 amid a post-pandemic shakeup.
Wesfarmers subsidiaries Kmart and Bunnings Warehouse have secured locations along the major arterial, alongside Costco, Harvey Norman, Coco Republic and Fantastic Furniture.
CBRE associate director of metropolitan investments Robert Dowdy said there has been a historical shift in the area following the COVID-19 pandemic.
“Many of these sites are coming to market for the first time in decades, with 35 – 37 Parramatta Road attracting over 120 enquiries after being offered for sale for the first time in 20 years,” Dowdy said.
The next sale of premises is Phil Gilbert Toyota’s 3,174 sqm landholding at 66-72 Parramatta Road.
Dowdy together with John Hill & Co’s Sam Hill are managing the sale via an Expressions of Interest campaign, closing June 8, 2023.
It is the first time the site has been offered for sale in 35 years, with the campaign expected to generate international buyer interest.