An exceptional opportunity has arisen to acquire the building of Australia’s largest financial institution, The Commonwealth Bank of Australia (CBA), in Cabramatta.

The property is located in the prime centre retail location of John Street, amongst other major banks Westpac, NAB, ANZ and St George. It is considered one of the biggest CBA branches occupying 1,467sqm premises over the last 50 years in Cabramatta and is strategically positioned only 200 metres from the railway station.

The highly prized building with site area of 867 sqm is anchored by a rare long 10-year lease with options to 2043. It is a prominent double-storey retail & commercial building, backed by the state-of-the-art multi-million-dollar refurbishment on its imposing combined floorplate of 1,467 sqm net lettable area (NLA) over two levels completed in December 2023. 

Exclusively appointed for this listing at 38 John St, Cabramatta are the Colliers team of Harry Bui, Head of Asia Markets, Australia and Andrew Bui, Senior Executive, Asia Markets. 

“As the commercial property market condition continues to evolve, investors focus shift towards more secure defensive assets which provide security of tenure, covenant and projectable long-term returns. This sees trophy assets such as 38 John Street, Cabramatta as highly desirable options for private high net worth family offices,” said Harry Bui. 

“Investor sentiment has shifted in September, with buyers bidding with increased confidence noting greater clarity around borrowing costs for debt funding. Globally, countries have begun cutting interest rates, including the Federal Reserve (USA) which cut rates by 50 basis points on the 18th of September.”

“This is a generational investment asset 100% leased to CBA, Australia’s largest bank, offering very rare 10-year lease terms, as well as the option to extend until 2043 with responsibility for all outgoings. The building also recently underwent a  major refurbishment completed in December 2023, confirming the strong commitment of CBA to stay for the long-term,” said Andrew Bui.

“Trophy investment assets in highly prized locations continue to be chased by investors, which we have seen recently with the recent sale of 167 – 173 Rowe Street, Eastwood which sold at auction in early October 2024 for $29.8 million at the passing net yield of 2%.”

Cabramatta is Western Sydney’s most iconic multicultural suburb combing everyday essentials with vibrant Asian dining experiences only 28 kilometres from Sydney CBD. It attracts over 15,000 visitors and tourists on the weekend alone.

Located within Fairfield City Council, Cabramatta forms part of the South-West Growth Centre and will house approximately 350,000 residents in 105,000 dwellings by 2031 and set to benefit from the upcoming $5.3 billion Western Sydney International Airport situated less than 30 minutes away.

CBA Cabramatta is for sale via a Worldwide Expressions of Interest campaign closing at 3:00 pm Thursday 21st November 2024 (AEDT).

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