- While currently anchored by retail tenants, the site may be prime for development
- The block sits within the City of Sydney Council's proposed “Botany Road Precinct” renewal project
- The renewal will will encourage new commercial buildings
A corner block about 15 minutes South of Sydney’s CBD is now for sale, with interest expected to spark among developers.
216-220 Wyndham Street is currently anchored by a retail tenant PetO with a WALE of approximately two years.
With development, the 2,733sqm site in Alexandria would allow for a potential GFA of between 13,528sqm and 16,635sqm (STCA). There is also a potential for gross commercial floor plates of up to 2,015sqm.
The site is placed within the City of Sydney Council’s proposed “Botany Road Precinct” renewal project which is hoped to transform the area into a vibrant commercial precinct.
Currently under review, the proposed project controls will encourage new commercial buildings and affordable housing. The suggested renewal project will also see an increase in green spaces and improved accessibility.
Commercial real estate agency Colliers has been appointed to manage the sale via an expressions of interest campaign.
Colliers National Director Trent Gallagher and Director Tom Barnier have the exclusive listing, being sold by a private vendor.
“This is a strategic and unique opportunity to acquire a substantial corner, freehold property in South Sydney’s booming suburbs of Alexandria and Waterloo,” Mr Gallagher said.
“The property will appeal to commercial developers and also owner-occupiers looking for a high-density commercial site in extremely close proximity to the new Waterloo Metro and Green Square Town Centre.”
Trent Gallagher, Colliers National Director
The “Botany Road Precinct” project is expected to boost future employment demand in the Redfern to Waterloo area where 216-220 Wyndham Street is situated. In mid-2022 the city of Sydney Council will consider a report including feedback received during a public exhibition for the project.
Mr Barnier believes the corner block sits in one of the most dynamic property markets in Australia.
“This is an opportunity to participate in the dramatic and extensive change that both Alexandria and Waterloo have ahead of them,” Mr Barnier added.
The expressions of interest campaign for 216-220 Wyndham Street, ends on 15th June 2022 at 4 pm (AEST).