The CBRE selling agent Robert Dowdy said buyers were already circling the property, given its location, blue-chip lease to the Commonwealth Government and potential development upside.

The home of Auburn Centrelink for sale for the first time in over two decades, generating strong interest from investors, owner-occupiers and developers.

The recently refurbished, 5-9 Macquarie Road building occupies a prominent 1,870sqm site in the heart of Auburn, within walking distance of Auburn Railway Station and Auburn Central.

The CBRE selling agent Robert Dowdy said buyers were already circling the property, given its location, blue-chip lease to the Commonwealth Government and potential development upside.

“Auburn has become a hive of activity in recent years, as highlighted by the recent $129.5 million sale of Auburn Central to SCA Property Group,” Mr Dowdy said.

“Auburn’s proximity to the Parramatta CBD, coupled with a lack of quality investment stock for sale, is driving interest from savvy investors and developers in available opportunities, particularly in light of the current low interest rate environment. We expect local, national and international bidding for 5-9 Macquarie Street, with buyer confidence having clearly improved since last year.”

Developed in the 1980s, the building offers basement parking for 40 cars in addition to the single-level Centrelink office. It is leased until December 2026 with two, three-year options, providing a passing income of $351,338.25 net per annum.

In addition, the B4 Mixed-Use zoning provides for a 5:1 floor space ratio which would allow for a building height of 38 metres (10 levels) subject to the relevant council planning approvals.

This development potential and the site’s location approximately 6km south-east of the Parramatta CBD is expected to helped drive interest, with Auburn recognised as one of the busiest commercial enterprise hubs in the Sydney Metropolitan region and home to national and international brand heavyweights such as Costco, Harvey Norman, Bunnings Warehouse, Coco Republic, Fantastic Furniture and Adidas.

The building will go under the hammer on April 1, 2021 at 10:30am at CBRE’s Western Sydney ground floor office (10-14 Smith St, Parramatta).

To request a copy of the Information Memorandum please email the marketing agent Robert Dowdy of CBRE via the contact form below: 

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