Approved Auburn Site Sold at Auction for $3.75 Million
Ray White Commercial NSW has sold a DA approved residential development site at Auburn in Sydney’s high growth western suburbs at auction for $3,750,000.
The approximately 960 sqm land area at 16-18 Simpson Street, Auburn, was sold under the hammer to a local developer by Jeff Moxham, Joseph Assaf and Samuel Hadgelias of Ray White Commercial NSW on behalf of a mortgagee.
Managing Director and Partner of Ray White Commercial NSW, Jeff Moxham, said the offering was presented for sale at Ray White’s auction rooms in the Sydney CBD.
“A strong marketing campaign ensured there were several bidders at the auction and bidding proved to be very competitive,” he said. “The site was sold under the hammer.”
Joseph Assaf said the site is zoned R4 High Density Residential and approved for 20 apartments.
“This asset is in a high growth precinct with approval for an apartment complex comprising 1 x one bedroom, 14 x two bedroom and 5 x three bedroom, over five levels,” he said.
“There is also two-level basement car parking for 29 cars proposed. The site was cleared and ready to build on.”
Samuel Hadgelias said the property is ideally located approximately 600m to Auburn railway station and shopping centre.