- 536sqm Sussex Street site currently home to three-storey commercial building
- Approval and plans for 16-storey mixed-use development, designed by FJMT Studios
- To be offered to market via EOI campaign by Knight Frank, on behalf of Guansheng Australia
A rare development site within the Sydney CBD approved for mixed-use development will come up for offer this week.
The 536 sqm site located at 311-317 Sussex Street, which connects the Darling Harbour to the Sydney CBD, is currently occupied by a three-storey commercial building.
The existing building dates back to 1914, when the 1,600 sqm building was constructed as part of several warehouse units known as ‘Hordem’s Buildings’.
The site is set for a major modernisation however, if the purchaser is to go through with the approved 16-storey mixed-use development.
Rare site with pre-designed development
Currently owned by Guansheng Australia Pty Ltd, the site will taken to the market this week by an Expressions of Interest campaign managed by Knight Frank.
Labelled a rare offering by Knight Frank, the property is expected to exceed a price of $35 million.
The EOI campaign will be overseen by Dominic Ong and Linda Zhu of Knight Frank, who expect to receive interest from both local and overseas investors.
“It is not often that properties offering development potential in the CBD come to the market, and with a revival underway in the city following Covid we are seeing renewed buyer interest.”
Dominic Ong, Knight Frank
Prospective buyers will have little left in planning on their hands, with the 16-storey project already designed by local architectural firm FJMT Studios.
The mixed-use tower will comprise of 83 rooms for student accommodation, 9 residential apartments and 3 retail stores, totaling a gross floor area of 4,750 sqm.
Ms Zhu said the Sussex Street site offers a prime location for professionals, students and businesses, highlighting the abundance of amenity and transport options in the surrounding area.
“The site is just 300 metres from the Town Hall train station and will benefit directly from the major transport infrastructure projects such as the Sydney Metro, set to further improve connections within the Sydney CBD.
“It is also close to world-class retail and entertainment amenities, including Darling Harbour, Darling Square, ICC Sydney, World Square, Queen Victoria Building and Chinatown, as well as within walking distance to the University of Technology Sydney.”
