A freestanding retail building in Guildford has sold for $3.25 million after less than two weeks on the market.
Ray White Commercial NSW associate director and licensee in charge Joseph Assaf and sales executive Robert Napoli managed the deal for 340 Guildford Road, which was secured last week well ahead of the property’s scheduled May 2 auction.
The two-storey building comprises four retail spaces ranging in size from 98sqm to 325sqm totalling 790sqm.
Lebanese dessert cafe Medina Sweets and Kim Nails & Beauty occupy two shops with two other vacant shops offering grease trap, gas and high power supply provisions suitable for flexible business usages (STCA).
Mr Assaf says the purchaser is looking to occupy the two vacant shops, which have a total lettable area of 586sqm over two levels. The shops are in the corner position of the building overlooking Guildford Road and Railway Terrace.
“Multiple income streams with great holding income and a key location in Guildford’s thriving retail strip — plus future development potential, subject to council approval— made this offering highly desirable,” Mr Assaf says.
“Extensive glass facades allowing maximum exposure and street appeal were also a drawcard and so the buyer moved quickly to snap up the site.”
The 822sqm property has rear-lane access and a loading dock. It is across the road from the Guildford train station.
The vendor is a private investor.