Parramatta. 22 Hunter Street sells for $2.21m

More than 80 enquiries, made predominantly by local investors, were made on a small, three-storey office building, at 22 Hunter Street, in the Parramatta CBD, before an undisclosed local businessman paid $2.21 million at auction for the property, which was in receivership. The property, which has 998 square metres of office space, sold above the reserve price on a gross yield of 9.3 per cent, based on the passing gross annual rental of $205,695, according to The Australian Financial Review. CBRE sold the property.