Highlights

• Raine & Horne Commercial Bankstown successfully auctioned a rare industrial site in Belmore for $4.7 million, surpassing the reserve price by a massive $1.1 million.
• The property attracted significant interest from investors and owner-occupiers seeking a property in the highly sought-after and tightly-held Belmore industrial precinct.
• Spanning 1,485 square metres across three titles, the property presents an excellent opportunity for astute investors, owner-occupiers, and developers looking to acquire a substantial industrial asset.

Raine & Horne Commercial Bankstown is pleased to announce the successful auction sale of a rare industrial site at 109-113 Lakemba Street, Belmore to a private investor for $4.7 million.

The property was sold for an impressive $1.1 million above the reserve price, attracting significant interest from investors and owner-occupiers in the highly sought-after Belmore industrial precinct. In total, there were 60 different enquiries and three active bidders at the auction.

Selling agent Mark Ammoun, Director, Raine & Horne Commercial Bankstown, said the property, spanning a generous 1,485 square metres across three titles, offered an excellent opportunity for astute investors, owner-occupiers, and developers looking to acquire a substantial industrial asset in the tightly held Belmore industrial precinct.

Other highlighted features include:

• Spacious building area of 1,106 sqm
• Expansive site area of 1,485 sqm spread across three titles
• High internal clearance and container height shutters
• Versatile opportunity for investment, occupation, or land development (subject to council approval)
• Zoning: IN2 Light Industrial.

“This is an extremely versatile property suitable for investment, occupation, or development (subject to council approval), and the successful bidder intends to occupy the property in the short-term and develop it longer-term,” Mr Ammoun said.

“The site is strategically located within the sought-after industrial precinct located within Belmore, allowing quick and easy access to major infrastructure including the M5 motorway, and minutes from retail and transport amenities.”

Mr Ammoun emphasised, "Another enticing aspect of this distinctive property was the absolute absence of any competing stock.

“We are delighted by the extraordinary outcome, which highlights a significant disparity between the number of buyers and available opportunities in the market. This imbalance has resulted in an exceptional result.”

For more information about this property at 109-113 Lakemba Street, Belmore and other listings, please visit the Raine & Horne Commercial Bankstown on 1300 00 21 20