Sydney, 29 October 2015 – A private investor has scooped a prominent Blaxland commercial premises owned by former Blue Mountains Mayor Ralph Williams for $1 million.
Located at 78 St Johns Road, Blaxland, the 860sqm property comprises a one and two level fitness complex previously home to Flip Out gymnasium, tutoring centre and home based business catering for the needs of the Blaxland and lower Blue Mountains region.
CBRE’s Thomas Mosca negotiated the freehold sale on behalf of the mortgagee in possession via an Expression of Interest campaign.
Mr Mosca said the transaction marked the sale of one of Blaxland’s most well-known commercial properties, which had previously been owned for 34 years.
“Renowned in the Blaxland and lower Blue Mountains community, this property has accommodated several local businesses in the region, and the new owner is currently seeking tenants to revitalise the centre, and the precinct.” Mr Mosca said.
“With an established reputation as a business centre, this high profile property presented an outstanding investment opportunity suitable for childcare, education and fitness, in addition to potential for owner occupation.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.