By Ewen McRae
By Ewen McRae
The first major commercial property auction in Sunshine since it was confirmed that the Airport Rail Link route will go through the suburb has forecast a boost for the area.
A two-level, 800-square-metre property at 242 Hampshire Road, Sunshine sold at auction last week for $3.56 million, more than $360,000 above the reserve.
The building is just metres from Sunshine station, which will become the site of a major transport hub when construction on the multi-billion dollar rail link is completed. Federal government support of $5 billion for the Airport Rail Link project will be matched by the state government.
The property sold to a local investor after competition from multiple bidders.
Fitzroys agents Chris Kombi and Terence Yeh sold the property in conjunction with Douglas Kay Estate Agents. Mr Kombi said the property was an attractive proposition for buyers.
“Inquiry came from a range of buyers looking to capitalise on Sunshine’s status as a booming suburb that will play a key role in connecting Melbourne in the future, which spurred competitive bidding and a benchmark result,” Mr Kombi said. “The Airport Rail Link is set to make Sunshine the key link between Southern Cross Station and Melbourne Airport, making Sunshine the major transport hub in Melbourne’s west.”
The building has frontage to Hampshire Road and Mann Place and is zoned as Activity Centre – Schedule 1, opening up potential for a range of developments up to five storeys.
Mr Yeh said the property’s versatility was a drawcard, offering growth prospects for investors, a well-presented first-floor space ready for occupation and attractive development opportunities in the suburb’s commercial centre. He said the local purchaser planned to hold the property as an investment and take advantage of Sunshine’s evolution.
