{"id":43076,"date":"2023-06-02T10:34:42","date_gmt":"2023-06-01T22:34:42","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=43076"},"modified":"2023-06-02T11:10:08","modified_gmt":"2023-06-01T23:10:08","slug":"43076-2","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/43076-2\/","title":{"rendered":"Record breaking sqm sale in Paddington as popular cafe sells"},"content":{"rendered":"<p><strong>PHOTO: 227 Glenmore Rd<\/strong><\/p>\n<div class=\"description g_font-long-format\">\n<p>A popular cafe in <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Sydney&amp;submit=Search\">Sydney<\/a>\u2019s east has sold in a record breaking sale, with a local family snatching up the mixed-use commercial site.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/how-to-play-the-sydney-property-dream-game\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/04\/Sydney-460x270.jpg\" alt=\"Sydney\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/04\/Sydney-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/how-to-play-the-sydney-property-dream-game\/\" rel=\"bookmark\">How to play the Sydney property dream game<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n<p>Currently tenanted by Sonder Cafe, the two-storey property at\u00a0<a class=\"body-link\" href=\"https:\/\/www.realcommercial.com.au\/sold\/property-227-glenmore-road-paddington-nsw-2021-501572129?campaignType=external&amp;campaignChannel=syndication&amp;campaignName=ncacont&amp;campaignContent=&amp;campaignSource=newscomau&amp;campaignPlacement=article\">227 Glenmore Rd\u00a0<\/a>sold for $3.75m in an off-market deal.<\/p>\n<p>This was a new sqm record for Paddington, with the asset going for $31,780 per square metre.<\/p>\n<div class=\"media image kskd-media\" data-kiosked-context-name=\"kskdUIContext_01h1wh45fq34w98qp0tswz6wz0\">\n<div class=\"responsive-img\" data-desiredimagesize=\"block_large_image\"><img decoding=\"async\" class=\"responsive-img_img inline-image\" src=\"https:\/\/content.api.news\/v3\/images\/bin\/4e33c37220330e319fe2297520e710d9\" sizes=\"705px\" alt=\"The commercial site sold for $3.75m in an off-market deal.\" width=\"1280\" height=\"720\" \/><\/div>\n<p><em><strong>The commercial site sold for $3.75m in an off-market deal.<\/strong><\/em><\/div>\n<p>It was purchased by a local investor from the Ockenden family, which had owned the property for around eight years.<\/p>\n<p>Knight Frank agents James Masselos, Demi Carigliano and Anthony Pirrottina acted on behalf of the vendor, with Mr Masselos highlighting the strength of the commercial market in the Inner West.<\/p>\n<p>\u201cThe result itself is very strong in this market given the very sharp 3.33 per cent net yield and a record-breaking dollar rate per square metre on the net lettable area.<\/p>\n<div class=\"media image kskd-media\" data-kiosked-context-name=\"kskdUIContext_01h1wh45h6enetgfh4vz63c14y\">\n<div class=\"responsive-img\" data-desiredimagesize=\"block_large_image\"><img decoding=\"async\" class=\"responsive-img_img inline-image\" src=\"https:\/\/content.api.news\/v3\/images\/bin\/32f8d58c29ba15374bbef7820ea0b881\" sizes=\"705px\" alt=\"A local investor from the Ockenden family purchased the cafe.\" width=\"1280\" height=\"720\" \/><\/div>\n<p><em><strong>A local investor from the Ockenden family purchased the cafe.<\/strong><\/em><\/div>\n<p>\u201cDespite the broader macroeconomic market, we are still experiencing strong demand buyers for prime freehold opportunities in the eastern suburbs and city fringe markets, like 227 Glenmore Road.<\/p>\n<p>\u201cThe property appealed to the buyer due to its location in the premium Paddington area, with the added benefit of its enviable B1 Neighbourhood Centre zoning \u2013 permitting a multitude of current and future uses for the property.\u201d<\/p>\n<div class=\"media image kskd-media\" data-kiosked-context-name=\"kskdUIContext_01h1wh45fq34w98qp0tswz6wz0\">\n<div class=\"responsive-img\" data-desiredimagesize=\"block_large_image\"><img loading=\"lazy\" decoding=\"async\" class=\"responsive-img_img inline-image\" src=\"https:\/\/content.api.news\/v3\/images\/bin\/f373d7904bc9a2fb4283d7d567f94add\" sizes=\"705px\" alt=\"The Paddington property offered 118 sqm of internal space.\" width=\"1280\" height=\"720\" \/><\/div>\n<p><em><strong>The Paddington property offered 118 sqm of internal space.<\/strong><\/em><\/div>\n<p>With a total area of 153 sqm and 118 sqm of internal area, the property was popular among investors looking for a sizeable asset near the city.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.news.com.au\/finance\/real-estate\/sydney-nsw\/record-breaking-sqm-sale-in-paddington-as-popular-cafe-sells-for-375m\/news-story\/d70475bcdbe9f9b0f8af737869034a0c\">NEWS.COM.AU<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR IN NEW ZEALAND<\/span><\/h3>\n<ul class=\"wpp-list\">\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/drug-addled-australian-real-estate-agents-spiral\/\" target=\"_self\" rel=\"noopener\">Drug-addled Australian real estate agent\u2019s spiral<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/claims-about-jacinda-arderns-wealth\/\" target=\"_self\" rel=\"noopener\">Claims about Jacinda Ardern\u2019s wealth<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/the-ancient-stone-city-proof-of-nz-civilisation-before-kupe\/\" target=\"_self\" rel=\"noopener\">THE ANCIENT STONE CITY: Proof of NZ civilisation before Kupe<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/he-sometimes-struggled-to-pay-staff-but-owns-a-4m-holiday-home\/\" target=\"_self\" rel=\"noopener\">He sometimes struggled to pay staff, but owns a $4m holiday home<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/abandoned-land-for-sale\/\" target=\"_self\" rel=\"noopener\">Abandoned land for sale<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/arec-2023-day-1\/\" target=\"_self\" rel=\"noopener\">AREC 2023 \u2013 Day 1<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/arec-2023-day-2\/\" target=\"_self\" rel=\"noopener\">AREC 2023 \u2013 Day 2<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/auckland-boatshed-tipped-to-sell-for-over-1m\/\" target=\"_self\" rel=\"noopener\">Auckland boatshed tipped to sell for over $1m<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/get-informed\/\" target=\"_self\" rel=\"noopener\">We reckon it is the BEST property news update in NZ!<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/real-estate-companies-have-lost-more-than-100000-to-phone-scammers\/\" target=\"_self\" rel=\"noopener\">Real estate companies have lost more than $100,000 to phone scammers<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: 227 Glenmore Rd A popular cafe in Sydney\u2019s east<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/43076-2\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":43077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478125401,478098512,478098521,478125402,478125404,478120947,478098513,478098510,478125405,478098536,478125403,478098618],"class_list":["entry","author-data123nz","post-43076","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-227-glenmore-rd","tag-australia","tag-australians","tag-ockenden-family","tag-paddington-cafe","tag-paddington-property","tag-property","tag-property-news","tag-sonder-cafe","tag-sydney","tag-sydney-cafe","tag-sydney-property"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Record breaking sqm sale in Paddington as popular cafe 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