The property was sold to a private investor in a transaction negotiated by Leonard Ng and Ray Trimboli of Savills.

Set on a 24,160 sq m site at 383 West Botany Street Rockdale, the property has a total retail area of 11,524 sq m across two free-standing buildings plus 290 car parks.

Bunnings Warehouse occupies the main 10,364 sq m building, while the smaller building is tenanted by electrical and data company John R. Turks (592 sq m) and BBC Tiles (568 sq m).

Savills’ Mr Ng said the high-profile fully-leased retail property serves a strong residential catchment area in Sydney’s southern suburbs and being an in filled site will be impossible to replicate.

 “This sale highlights the continued appetite of cashed up investors interested in assets with long term secured cashflow and in well-located positions”, Mr Ng said.

“There are limited investments of this nature and private high-net worth investors are actively seeking out any opportunities for strategic acquisition.”

The undisclosed private investor purchased the Rockdale retail property from Jemoola Pty Limited, a private development and construction company.