153-165 Parramatta RoadNorth Strathfield NSW 2137
Property Details for 153-165 Parramatta Rd, North Strathfield
Last Listing description (March 2024)
RWC Western Sydney is pleased to present 153-165 Parramatta Road, North Strathfield ('the Property') for sale via Expressions of Interest.
An iconic showroom situated on a substantial 5,960sqm* landholding with a brand-new lease to Hyundai Motor Group.
The Property presents a unique and rare opportunity to acquire one of Sydney's highest exposure assets along the regentrifying Parramatta Road corridor. Sitting on an island site, the Property boasts over 300 metres* of street frontages with access off both Concord Road as well as Parramatta Road.
Forming a part of The Parramatta Road Urban Transformation Strategy, the Property also benefits from substantial future redevelopment upside.
Additional Highlights of the Property:
• Lease to multinational blue-chip tenant - Hyundai Motor Group
• Secure 10-year lease plus 7-year option until 2041
• Annual net income of $1,100,000 plus GST
• Fixed 5% annual increases to future proof your investment
• Substantial site area of 5,960 sqm*
• Existing lettable area of 4,216 sqm*
• Existing improvements include showroom, offices, workshop, storage, restaurant/café as well as amenities
• Ample onsite parking
• Highly desirable business destination with unparalleled exposure
• Three street frontages with direct access to Concord Road and Parramatta Road
• Incredibly flexible Zoning E3 Productivity Support - allows for residential, retail & commercial uses
• Long term potential to value-add, reposition or redevelop
• Attractive net lease with tenant responsible for all outgoings
The property will be offered for sale via Expressions of Interest, closing Wednesday 28 February 2024 at 3:00pm.
For more information, please contact the exclusive agents.
*Approx.
Property History for 153-165 Parramatta Rd, North Strathfield, NSW 2137
- 11 Mar 2024Sold for $23,000,000
- 28 Jan 2024Listed for Sale Expressions of Interest
- 29 Jan 2016Sold for $867,050
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0About North Strathfield 2137
The size of North Strathfield is approximately 1 square kilometres. It has 5 parks covering nearly 0.6% of total area. The population of North Strathfield in 2011 was 4,442 people. By 2016 the population was 4,758 showing a population growth of 7.1% in the area during that time. The predominant age group in North Strathfield is 20-29 years. Households in North Strathfield are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in North Strathfield work in a professional occupation. In 2011, 54.9% of the homes in North Strathfield were owner-occupied compared with 50% in 2016.
North Strathfield has 2,235 properties. Over the last 5 years, Houses in North Strathfield have seen a 59.76% increase in median value, while Units have seen a 13.66% increase. As at 31 August 2024:
- The median value for Houses in North Strathfield is $2,505,619 while the median value for Units is $848,445.
- Houses have a median rent of $950 while Units have a median rent of $698.
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