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A MASCOT warehouse has sold for $2.9 million, a new record for the Sydney suburb.
Located at 295 King St, in a B5 business development zone, the property comprises a 562sqm free standing building on a 740sqm site. It was sold to a private Investor following more than fifty enquiries during the auction process and competitive bidding on the day.
Zenonos says this is a Mascot record for a freestanding building sized under 1,000sqm with no residential development upside.
The property, which was formerly owned by A & S Williams, provides a substantial office, warehouse and mezzanine area in addition to onsite parking and exclusive yard. There was also the opportunity for a lease-back which the vendors opted to take.
"Because of the property's location in a business development zone, business owners had a unique opportunity to buy into the area without competition from developers." adds Silva.
Business News Australia
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