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Silverwater property sells for $2.35m

Silverwater property

CBRE says its agent Robert Dowdy negotiated the sale of a Silverwater property with Nova Real Estate to a local owner-occupier for $2.35 million.

The investment management firm says the owners were a retired couple who sold their industrial-zoned home to a recycling business.

“Given its zoning and location in a very tightly held industrial market, the property was very appealing – presenting a blank canvas to owner-occupiers, developers and investors,” Robert says.

“Buyers were lining up to secure the site, which presents an opportunity to develop a circa 500 sqm industry building, subject to the relevant planning approvals,” he adds.

CBRE notes while the average price of a Silverwater home is circa $1.5 million, the couple has capitalised on their property’s prime location – wedged between existing industrial sites – after living there for 25 years.

It says the 99 Deakin Street home occupies 690 sqm of prime land close to major arterials such as Silverwater Road, Parramatta Road, James Ruse Drive, and the Western Motorway – M4.

For more information on CBRE, click here.

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