Granville site sold for first time in 54 years

A property in Sydney’s western suburbs that had not changed hands in more than half a century has sold at auction, giving hope for a return to normalcy in the commercial property auction market.

The Granville development site at 95-99 Blaxcell St sold in just 11 minutes in a hotly contested online auction, with the hammer falling at $2.13 million.

A local developer secured the property after 30 bids, with five bidders registering to be a part of the auction.

Touted as the “last remaining vacant retail site in Granville”, the extensive corner block sits alongside a service station and is zoned to allow for childcare, shop-top housing, a medical centre, community facilities, neighbourhood shops or a small supermarket.

The property sits opposite Granville Woolworths.

The 922sqm block last sold in 1966.

CBRE agents Robert Dowdy and Lord Darkoh, who marketed the property, say the result is a positive sign

“Despite the COVID-19 pandemic, buyers are still ready and willing to buy under auction conditions,” Dowdy says.

With 32 metres of street frontage, the block was keenly sought after for its location opposite a Woolworths supermarket and the new Atelier residential development, as well as being just 3km from the Parramatta CBD.

The developer’s plans for the site are yet to be revealed.