Strong bidding produces great result for development opportunity.
The former site of the Cabramatta Fire Station, located at 259 Cabramatta Rd, Cabramatta, has sold at auction for $2.1million to a local Asian investor, the Lu Group.
The 613sqm site sits on Cabramatta Road West, near the junction of Hill Street. Only 500 metres from the Cabramatta Train Station and adjacent to the Council Car Park at the rear, the site was ripe for redevelopment and drew strong interest from developers and investors.
“This prime development site in a growing inner west suburb, made this site highly attractive to developers,” said Mr Bui. “We had 15 buyers attend the auction, and strong bidding resulted in a sale price 75% above the reserve price. We were thrilled to achieve such a great result for Fire and Rescue NSW.”
With a B4 Mixed Use zoning under the Fairfield LEP 2013, the site may be developed for retail, commercial and residential use.