An inner Sydney property home to Sydney’s iconic Space Q capsule hotel is up for sale.
An inner Sydney property home to Sydney’s iconic Space Q capsule hotel is up for sale.
The fully-leased building at 752 George Street in Haymarket consists of a high-profile ground floor and mezzanine level retail space leased to Hisshou Teppanyaki, and four upper levels of accommodation leased by Space Q.
It has 966sq m of gross lettable area, including 180sq m on the ground floor and 786sq m over levels one to four, and sits on a 231sq m site.
The property is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Linda Zhu, Dominic Ong in conjunction with Savills’ agents Andy Hu and Jordan Lee.
The property is owned by Roje Brothers Pty Ltd, which has held the property since 1992, says local director and solicitor Raymond Lee.
Ms Zhu said the prime freehold asset was expected to attract a wide range of investors due to its location in the tightly-held George Street, prominent street frontage and a range of value-add opportunities.
“The property is fully leased, providing a strong holding income but it also has favourable planning controls with a 50-metre height limit.
“Occupying a prominent George Street position, the property is situated in the growth corridor of the New South Wales Government’s multi-billion-dollar Tech Central precinct next to Sydney’s Central Station.
Mr Hu said: “We are seeing a lot of active offshore capital actively chasing for opportunities within that precinct.
“Premium retail offerings along this section of George Street are rarely offered to the market and the high -exposure location of this asset is second to none.”