- A motorhome dealership in Clyde expects to fetch over $5M
- An office in the The Rocks has has hit the market
- A new timber development will soon rise over Pitt and Hunter Streets in Sydney
A unique office set amidst Sydney’s The Rocks has come to market, with a motorhome dealership close to the Parramatta CBD also expecting to fetch handsomely as the owners retire.
A recent acquisition in the heart of Sydney’s CBD will also soon see a brand new development rise, expecting to break records for its type.
World’s tallest hybrid timber tower to rise over Pitt and Hunter Streets
Merricks Capital recently announced it would finance the acquisition by the Milligan Group of a strategic site located on the corner of Pitt and Hunter Streets in central Sydney.
The Milligan Group plans to construct a 220-metre-tall, 55-storey mixed-use commercial tower at the site, set to be the world’s tallest hybrid timber tower.
Development of the site is expected to integrate with the planned Hunter Street metro station, anticipated to be completed by 2030 and forecast to be one of the busiest train stations in the Southern Hemisphere.
Dan O’Donoghue, Head of Private Credit at Merricks Capital, said Merricks Capital’s close working relationship with the Milligan Group and strong investor relationships had been critical in facilitating the $465 million funding agreement.
“The Milligan Group is to be commended for their tireless efforts putting the site together and we look forward to working closely with James Milligan and his team to deliver the project.
“This is another step in the transformation of the City of Sydney, and the development, valued at approximately $2 billion once complete, will have strong cultural and economic benefits.”
Historic Sydney office building hits the market
A unique office building in The Rocks has hit the market, offering six levels of commercial office with ground floor retail consisting of two separate buildings that were amalgamated in 2007.
Located at 117 Harrington Street, the property, which comes with three street frontages, has an NLA of 1,417 sqm and is the only Sydney office asset under 1,500 sqm that possesses a NABERS energy rating of 5.0 stars or above.
The Colliers team of Joseph Lin, Vince Kernahan and Callum Cooke have the listing, in conjunction with Jonathan Vaughan and Andrew Hartford of Knight Frank. It is listed on behalf of vendor Terraform.
“Surrounded by some of Sydney’s newest developments including the Salesforce Tower and Quay Quarter tower, the property is poised to benefit from the continued evolution of the precinct. Its location close to EY Centre, Grosvenor Place and the Four Seasons Hotel solidifies this position,” Cooke said.
“Accessibility in The Rocks is key to its appeal, with both Circular Quay and Wynyard train stations just a short walk away, as well as the Light Rail and Sydney Ferry services. Infrastructure continues to be built in the region, with retail, food and beverage amenity all improving,” Hartford added.
The building comes with a typical floor plate of 278 sqm with key tenants including Adara Advisors, Artazan Property Group and Pharmacy Phusion. It has a WALE by income of 2.89 years and a current net passing income of approximately $1.214 million per annum.
Motorhome dealership to fetch over $5M
A husband and wife owned motorhome dealership in Clyde has come to market, and is located along Parramatta Road.
The 1,316 square metre parcel of land includes a warehouse/showroom and has been listed for sale as the vendors prepare to retire.
CBRE’s Robert Dowdy is steering the auction campaign.
“There are a limited number of circa 1,000sqm-plus offerings on Parramatta Road, which will help drive buyer interest, as will the site’s prime corner location,” said Dowdy.
Located just five minutes from the Parramatta city centre – now known as Sydney’s second CBD – the 35-37 Parramatta Road property is situated just off the M4 on and off-ramps on the corner of Kendall Street.
The existing improvements include a freestanding building totalling 417 sqm, comprising a 227 sqm warehouse/workshop area and a 190 sqm office/showroom.
