- The listing is expected to attract offers circa $50 million
- Five retail spaces are spread across four floors
- Residential resales within the development made news with price increases of 20 - 30%
A rare retail opportunity offering a front-row seat to Sydney Harbour has entered the market with offers expected around $50 million.
The listing known as Opera Residences Retail is sprawled over four floors of the recently completed Opera Residences development.
Located at 71 Macquarie Street the property consists of five generous retail spaces totalling 1,746sqm and boasts 38 metres of waterfront frontage.
With a grand opening expected in July, four tenants have been confirmed for the precinct. These include the Japanese teppanyaki fine dining restaurant and bar OBOROZUKI, a trendy ground floor café, an award-winning international restaurant chain, IPPUDO Ramen and upmarket Opera Ice Creamery.
The retail listing is being sold by the developer behind Opera Residences, Macrolink and Landream.
Mr Ong who leads Knight Frank’s Asian Markets Division believes the rarity and location of the site will be key features attacking interest in this listing.
“This high-end retail space is arguably the best real estate in Australia, with a front row seat to Sydney Harbour and just a short walk from the Opera House,” he said.
“It is in the most iconic location in Sydney, making it one of Australia’s most visited destinations and a key transport hub in the heart of the city.”
Dominic Ong, Partner & Head of Asian Markets
“The offering is also situated within one of the most luxurious residential developments in the city, the Opera Residences.”
The 104 apartments in Opera Residences sold off the plan within two hours of their 2016 launch with $550 million in sales recorded in a single day.
More recently resales within the development made news with price increases of between 20 and 30%.