digiDirect owner buys Casaceli family's shire gateway site for $22 million

The 6586 square metre site at the corner of Taren Point Road and Parraweena Road, Miranda, which includes four buildings, has been held by the Casaceli family for more than 40 years.

It includes a recently built two-storey showroom, the top level of which is occupied by the Cronulla Carpets. The firm will remain as a tenant.

An adjoining property which housed Cronulla Furniture was sold to Tesla in 2021.

The acquisition of 175-177 Taren Point Road and 94-98 Parraweena Road is being described as "a strategic investment", and digiDirect will not be opening a store on the site.

Colliers agents Edward McFarland and Trent Gallagher, who facilitated the deal, said in a statement that, "in response to recent strong interest from ASX-listed brands and multinational tenants, the property owner has adjusted their strategy and will now focus on leasing out the existing vacancies at competitive rates".

"Multiple leasing deals are currently being finalised on site by Colliers and Pierge Property & Asset Management."

Mr McFarland said, "A high appetite for property in this location saw strong interest come from a range of buyer groups, as the impressive market fundamentals combined with the high visibility on a prominent road made it a highly sought-after property".

Mr Gallagher said, "Southern Sydney continues to be an attractive destination for capital of all sectors, given the growing demand for property, its high accessibility to major arterial roads, and its booming population."

Mr Kradjian, who founded digiDirect and is the group managing director, said, "As someone who paved my path in the business of retail, I was instantly attracted to the incredible exposure this site offered".

"The opportunities are endless, and we look forward to capitalising on them after some careful analysis and planning," he said.