Six Liverpool strata titled units smash $2.2M at auction

AN entire block of six strata titled units in the Greater Western Sydney suburb of Liverpool has sold in-one-line for $2,262,500 under the hammer at 61 Goulburn Street.

The property, that came with a 733sq m* land area, offered B4 zoning that provided flexibility to purchasers to maximise the potential realisation of the site.

The asset was marketed and sold by Ray White Commercial NSW – Metropolitan Sydney Principal Jeff Moxham and Associate Director Samuel Hadgelias.

Mr Moxham said it was a strong campaign, and the potential purchasers were predominantly investors, with some builder developers in the mix as well.

“The sale reflected a yield on the existing $69,000* p.a. income of three per cent, we had a healthy 70 enquiries throughout the auction campaign, and that resulted in nine registered bidders battling it out on the day,” Mr Moxham said.

“This type of asset class is very popular in the market at the moment. Investors are looking for a steady income stream with potential future ‘upside’ – be it through renovation, development or capital growth.

“Properties are particularly popular in established and growing areas near new infrastructure and the estimated fully-leased income of $102,000 really appealed to potential buyers.”

Mr Hadgelias said the boutique unit block offered investors and developers the opportunity to take advantage of a strong, consistent return while benefiting from the area’s capital growth and future development prospects of the asset, subject to council approval.

“Being in the epicentre of the Liverpool CBD meant the future owner of the land would benefit from the considerable investment in infrastructure and amenities that the Liverpool CBD is set to benefit from,” Mr Hadgelias said.

“Opposite Liverpool Hospital and near to the Liverpool Innovation Precinct, this property will reap the benefits of the government’s $740M injection for refurbishment and upgrades of the hospital, which will further contribute to the prosperity and growth of the area.”

*Approximately.