- The 3,224 sqm site is spread across two neighboring properties
- The dual site in Redfern offers street frontage to both Renwick Street and Regent Street
- Current uses include both residential and commercial
A 3,224 sqm site dubbed The Regent Collection is being taken to the market via an Expressions of Interest campaign with offers expected to exceed $110 million.
The site is spread across two titles at 71-81a Regent Street and 10-38 Renwick Street in Redfern.
The property currently hosts 58 residential apartments, four retail tenancies, and a commercial building totalling 490sqm.
Tim Holtsbaum, Jonathan Vaughan and Dominic Ong of Knight Frank in conjunction with James McCourt and Tom Williams of Karbon Property will run the Expression of Interest Campaign.
Mr Holtsbaum highlighted the property’s strong income and development potential.
“Being situated in one of Sydney’s major growth corridors, the property provides a purchaser with the opportunity for immediate residential scale in Australia’s most sought-after city,” he said.
“A strata sell down, the construction of the now-lapsed DA or a complete redevelopment of the site will all provide short, medium and longer-term avenues to add value in the future after capitalising on the current income stream.
“The site has favourable mixed-use zoning with untapped gross floor area, with a future development to capitalise on the growth to come in this precinct.”
Mr McCourt emphasized the strategic position of The Regent Collection given the billions of dollars worth of private and public infrastructure underway in the area.
“It is one of the few opportunities of scale in the city fringe that has potential to truly leverage off a range of surrounding proposed planning changes.”
“The gentrification of Redfern is ongoing and underpinned by a commitment from all levels of government to develop Australia’s biggest technology and innovation precinct.”
James McCourt, Karbon Property Director
“The site is within immediate proximity to South Eveleigh, Tech Central and the Waterloo metro precinct.”
The Expressions of Interest campaign for the property be open until 4 pm on July 7.