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Hat-trick of commercial listings highlights market strength

Artist’s impression of two and four Gilba Road in Pendle Hill.

BUYERS have an incredible opportunity to purchase three separate outstanding commercial assets as a hat-trick of new listings highlights the strength of the current market in NSW.

Two and Four Gilba Road in Pendle Hill offers a DA approved mixed-use development site, 2-4 Palmer Street in Parramatta is a freestanding commercial investment with development upside, and 3-5 Gordon Street in Rozelle offers an entire block of seven in-one-line units.

The three assets are being marketed and sold by Ray White Commercial Metropolitan Sydney Principal Jeff Moxham, Director Samuel Hadgelias, and Sales Associate Steven O’Neill.

“In the last three months we have managed to defy all the negative speculation and we have transacted $65,300,000 during that period,” Mr Moxham said.

2-4 Palmer Street in Parramatta.

“Buyers and sellers can take great confidence from the fact that enquiry levels across all our listings this year remain very strong.

“We’re continuing to see strong interest across most asset classes with investors either chasing security of income flows or ‘upside’ in terms of future development of the asset.”

“Whereas we’re noticing an increased demand from developers who are actively hunting for smaller ‘approved and ready to go’ sites,” Mr Hadgelias said.

“These builders/developers have teams ready to go and are looking for projects, near transport, that can be immediately developed – just like Pendle Hill.

3-5 Gordon Street in Rozelle.

“There’s absolutely no doubt that we’ve noted a surge in positivity and market sentiment as restrictions have been lifted.”

“Transaction volumes may be down, but our research is showing overall confidence is improving in the market with some larger institutional investments transacting this week, which improves sentiment across the broader marketplace,” Mr O’Neill said.

“We’re noting an increasing trend of vendors wanting to sell now with the potential uncertainty of what the future will hold as JobKeeper payments and mortgage holidays expire.”

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