Entire Parramatta office building hits the market

BUYERS have an incredible opportunity to purchase an entire office building in the thriving city of Parramatta as 104-108 Church Street hits the market.

The property, that comes with a 1,067sq m* site area and a total 4,115sq m* net lettable area, has a 0-Star NABERS energy rating and is being offered to the market via expressions of interest closing on Wednesday 30 September 2020 at 3 pm.

The asset is being marketed and sold by Ray White Commercial Western Sydney Senior Sales Executive Jai Sethi, Principal Peter Vines, Associate Director Victor Sheu and Director Joseph Assaf.

“This asset represents an incredibly rare repositioning opportunity with value-add potential in the thriving Parramatta CBD and offers buyers a potentially fully-leased net income of $1,769,000* p.a. with positive rental reversion,” Mr Sethi  said.

“Comprising of six levels office accommodation, ground floor retail and two levels of car parking, it’s just 300m* to the Parramatta bus/rail interchange, Westfield, and the $2 billion Parramatta Square development.”

“Parramatta is absolutely thriving, with Parramatta Square coming on really well, and the recent announcement of Sydney Metro West as well as the Light Rail on its way, there are always keen investors looking at getting into this market,” Mr Vines said.

“Parramatta provides businesses and investors a strong alternate option to the traditional CBD, as well as North Sydney’s high prices. This has led to higher demand for commercial space in Parramatta, particularly of good location,” Mr Sheu said.

“The property is zoned B4 Mixed-use with significant development upside and holding income and is one of the last mixed-use development opportunities along the Church Street southern precinct,” Mr Assaf said.

*Approximately.