A prominent real estate site in Sydney’s West has been listed for commercial sale for the first time in over 45 years.
The two-storey shop at 66 Haldon St sits in the heart of Lakemba Village and used to be occupied by Andy Palumbo Real Estate which had over 4,000 properties under management.
The real estate office occupied over 290 sqm of zoned land and benefited from rear lane access with lockup garage parking for four cars.
Located within 150 metres of Lakemba Train Station, the property has the potential to be repositioned or developed.
Lakemba Village is considered one of the busiest retail villages in Sydney, with a range of food, fashion, medical, or allied retail use nearby.
Andy Palumbo passed away in May last year, resulting in the operations being wound down.
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Mr Palumbo’s family have opted to divest the asset to be considered by an incoming buyer.
The listing is being managed by the Colliers team of James Cowan, Jordan McConnell, and Nick Estephen with a price over $3.5m.
“There have been only four arm’s length sale campaigns along Haldon St Lakemba in the past five years, representing a severe undersupply of available stock in one of Sydney’s most active and trafficked retail precincts,” Colliers Director James Cowan said.
“The asset lends itself to a wide variety of potential uses and we believe there will be strong interest from owner occupiers and investors. This will be coupled with developer interest given the large land size, sizeable floor space ratio and surrounding precedence,” Mr McConnell said.
The Lakemba property will head for sale via public auction on the 30th March.