No divine inspiration needed as Sydney church site sells above reserve

A church site has sold for a record price to a temple group that outbid other religious organisations, developers and industrial occupiers vying for the western Sydney property.

The approved church site in Regents Park sold at auction for $3.75 million, which agent CBRE said was well above the reserve price.

Sydney temple group Shaolin Kungfu Meditation of Australia purchased the property from the Indonesian Christ Family Church, which owned the site for 22 years.

“Potential church sites are hot property, given the limited availability of land approved for religious purposes and the process required to achieve rezonings,” CBRE’s Robert Dowdy said.

The sale price sets a record rate of $2648/sqm for industrial land in Sydney’s west, CBRE said.

Potential church sites are hot property, CBRE says. Picture: realcommercial.com.au/sold

The sales campaign for the 1416 sqm property generated a lot of interest ahead of Friday’s auction, which was steered by Mr Dowdy and CBRE colleague Raj Chaudhary.

Mr Dowdy said the campaign attracted 82 enquiries, 20 registered bidders, 70 attendees and 108 bids, with religious groups vying against developers and industrial occupiers.

“The large crowd on auction day highlights that buyers are still ready and willing to buy good opportunities under auction conditions despite the COVID-19 pandemic,” he said.

The Indonesian Christ Family Church is now looking for larger premises.