Neighbouring family-owned business have joined forces in Cammeray to sell their commercial properties to development firm Platino Properties, which acquired the site for just above $8.5 million. The Agency’s Aaron McLean worked on the deal for almost three years to amalgamate the site and negotiate between his clients and the new owners. 

The result was brokered during Sydney’s challenging lockdown, and Mr McLean credits his relationships with all parties leading to favourable terms for all and an “excellent price” for the long-time owners of 451 and 453-455 Miller Street, Cammeray.

“Mr Singh who owns 451 Miller Street is a well-known restaurateur, with such restaurants in Sydney’s north shore in Kirribilli, Lavender Bay and Crows Nest,” Mr McLean said.

The freehold retail terrace shop boasts rear lane access and has a current income of approximately $67,5000 per year.

“Mrs Rochios and her family have owned 453-455 Miller Street, Cammeray for almost 50 years and ran a grocery store there for many years.”

453-455 Miller Street is a dual freehold retail terrace shop on 383sqm, with a current income of $125,000 per year.

The site was attractive for the new owners Platino Properties, helmed by architect George Revay, who are locally renowned for sell-out developments across Sydney’s prestige areas across the inner west, eastern suburbs and north shore.

Mr McLean says Platino Properties is on the pulse of what buyers are looking for.

“Platino have plans to build 2-3 bedroom apartments on the site in the near future. They know this area is attractive to owner-occupiers, as opposed to investors.”

To request a sales analysis please contact the selling agent Aaron Maclean of The Agency via the below contact details.