Six secure parking spaces at 2 Phillip Street, near the Sydney Opera House and Harbour Bridge, have sold for a combined $3.65 million, which works out to $608,000 for every.
The figure beat pre-auction expectations and is sort of double the $304,700 paid for a automobile parking space in Notts Avenue, Bondi, believed to be the previous record.
“Being probably the most undersupplied and tightly held asset classes within the Sydney CBD, we knew competition was going to very high,” selling agent James Cowan of Colliers told Real Industrial.
Mr Cowan said the 85-square-metre lot, situated on the 20-storey The Quay constructing, saw 92 inquiries and 16 inspections. The spaces were offered with vacant possession.
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“Strong bidding saw the reserve reached by the fourth bid, with greater than 30 bids received,” Mr Cowan said.
The previous record-setting automobile parking space price in Australia, understood to have been sold in January 2024, was a single automobile space at 2-4 Notts Street, metres from Bondi Icebergs off Campbell Parade along the enduring beach strip.
“We’re increasingly seeing people [investing in parking spaces] for the life-style profit,” Alice Stolz, the Property Editor of Domain, told Bondi Beach News.
“Some people in areas like Bondi, for instance, might think it’s just price it getting a park spot near Bondi Beach in order that they can head down after work and jump within the ocean.”
This Article First Appeared At www.carexpert.com.au
