A FORMER butcher’s shop, residence and freestanding commercial building has sold under the hammer for $2.4 million at 1109-1111 Botany Road, Mascot.
The same family had owned and lived at the property for about 100 years and the asset attracted three competing bidders on the day.
Ray White Commercial NSW Managing Director and Partner Jeff Moxham said many factors including location and the B2 Local Centre zoning, giving investors flexibility for future use of the site, meant interest was strong.
“We had more than 50 enquiries throughout the campaign, 11 contracts requested, and this led to three potential investors raising their hand during the auction in the hope of securing this asset,” Mr Moxham said.
“The property’s location in one of Sydney’s biggest development pockets and being in the heart of the Mascot shopping village meant we had high confidence in the on-the-day interest levels.”
Mr Hadgelias for Ray White Commercial NSW said given the strength of community in Mascot, it was expected there would be plenty of local interest.
“The lucky bidder was a local investor who knew the property well and that was no surprise given locals would have walked past the property for decades.”
Facing Botany Road with a frontage of approximately 10.7m, the shop, although not currently tenanted, is still fitted out as a wholesale butcher shop – complete with functional refrigerator and freezer rooms.
The two-bedroom home behind the shop, accessed by a walkway at the side of the property, was in original vintage condition and was offered with vacant possession.
Another freestanding (commercial) building, currently tenanted, plus a big garden made up the remainder of the offering (providing the potential of three concurrent income streams).
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