SOLD
Sold on 03 Jun 2024 - Price Unavailable

359 Concord Road
Concord West NSW 2138

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Land area: 772m2
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Property Details for 359 Concord Rd, Concord West

Building Type
Commercial
Year Built
1992
Land Size
772m2
Local Government
Canada Bay
Lot/Plan
12/J/DP11871

Last Listing description (October 2024)

RWC Western Sydney is pleased to present 359 - 361 Concord Road, Concord West for sale, via Expressions of Interest.

Representing a unique investment opportunity to acquire an entire mixed-use complex, comprising of 12 units and 3 retail/ commercial areas to be sold in one line.

Currently, units 1-6 and 8-11 (10 units in total) are leased to NSW Land and Housing Corporation on a two (2) years lease term expiring on 1 January 2025.

Commanding an impressive three (3) street frontage site, the complex is fully leased with a passing net income of $556,965* per annum with scope to increase.

Strategically located in the affluent Concord suburb, only 350m* to Concord Hospital, walking to proximity to local retail shops and the vibrant Majors Bay Road retail precinct.

Additional highlights of the property are outlined below:
Favourable unit mix (3 x 3 bedrooms, 6 x 2 bedrooms, 2 x 1 bedroom and 1 x studio)
25 Security Car spaces
Rooftop terrace with panoramic city views
Three street frontages for enhanced accessibility (Concord Road, Boronia Street & Currawong Lane)
Significant potential for rental uplift after headlease expiration in January 2025
230m* to Concord West Public School
350m* to Concord Hospital
1.1km* to Concord West Train Station
Close Proximity to Sydney Olympic Park, Burwood CBD, and the M2 Motorway

This is an ideal opportunity for investors, strata sell down groups and housing providers looking to capitalise on the current housing shortage, rising rents and migration boom.

The property will be offered for sale via Expressions of Interest, closing Thursday 7 November 2024 at 3pm (Unless Sold Prior).

For more information, please contact the exclusive selling agents.

* Approximately

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Property History for 359 Concord Rd, Concord West, NSW 2138

A timeline of how this property has performed in the market
Last Sold
03 Jun 2024
Listed for Rent
$230/w
13 Aug 2020
  • 04 Oct 2024
    Listed for Sale EXPRESSIONS OF INTEREST
  • 03 Jun 2024
    Sold
  • 13 Dec 2019
    Listed for Rent $230 / week
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About Concord West 2138

The size of Concord West is approximately 2.7 square kilometres. It has 11 parks covering nearly 5.6% of total area. The population of Concord West in 2011 was 5,848 people. By 2016 the population was 5,906 showing a population growth of 1.0% in the area during that time. The predominant age group in Concord West is 40-49 years. Households in Concord West are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Concord West work in a professional occupation. In 2011, 76.7% of the homes in Concord West were owner-occupied compared with 75.5% in 2016.

Concord West has 2,491 properties. Over the last 5 years, Houses in Concord West have seen a 40.23% increase in median value, while Units have seen a 31.59% increase. As at 31 October 2024:

  • The median value for Houses in Concord West is $2,593,843 while the median value for Units is $913,472.
  • Houses have a median rent of $995 while Units have a median rent of $620.
There are currently 9 properties listed for sale, and 12 properties listed for rent in Concord west on OnTheHouse. According to CoreLogic's data, 94 properties were sold in the past 12 months in Concord west.

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