Camerons Newsagency on Bong Bong Street, Bowral, was sold by Burgess Rawson director Simon Staddon and sales executive Sam Horwitz.

The freehold property sold for $2.88 million.

Simon Staddon said the 470 square metre land area and central location offering substantial future development potential garnered significant demand from a broad range of parties including investors, owner occupiers and developers

“As soon as this property hit the market, we received an overwhelming response with close to 100 enquiries nationally and 35 contract requests,” he said.

“Bowral, just one and a half hours drive south of Sydney, is a vibrant town with an affluent demographic of long- standing residents and an increasing number of empty nesters from areas like Sydney’s Eastern Suburbs, which has led to a thriving commercial precinct with little to no retail vacancy.

“The eventual purchaser was attracted to the property’s outstanding location, longstanding tenure and now owns a slice of Bowral’s history.”

The property has double street frontage and currently produces a net income of $118,115 per year.

It is currently leased by Camerons Newsagency until April 2018- a long standing local business which has operated from the subject premises for the past 94 years.