Rare Castlereagh Street Retail Surrounded by New Infrastructure and Development

Lot 1, 197-199 Castlereagh Street, Sydney, New South Wales 2000

Retail For Sale

Expressions of Interest. EOI Date 20 Jun 2019
Land Area: 1,185.00 m2.    Floor Area: 2,622.00 m2.    

Description

Lot 1, 197-199 Castlereagh Street, Sydney presents investors the exceptional opportunity to acquire a substantial fully renovated stratum holding within Sydney CBD’s tightly held premium retail core on Castlereagh Street.

The property comprises approximately 2,622sqm of improvments and is 100% leased to The Castlereagh Club on a 7 + 5 + 5 year net lease.

Comprising two levels of basement, ground floor and upper ground, the property is currently undergoing complete refurbishment and is occpupied by The Castlereagh Club, World Gym and Lynn Shanghai restaurant.

197-199 Castlereagh Street is positioned central to the new Pitt Street North and Pitt Street South entrances to the new Metro rail network entrances, and over station developments. These are only two of numerous new large-scale projects (including office, hotel and residential) surrounding the property adding valuable new amenity and future growth prospects for the property.

It is very rare that retail of such scale provides opportunity for private ownership. We strongly recommend all investors consider this exceptional opportunity.

Lot 1, 197-199 Castlereagh Street, Sydney is being sold via International Expressions of Interest closing Thursday 20th June 2019 at 4pm AEST.

Features

  • 2,622sqm total area
  • 12 car spaces
  • 7 + 5 + 5 year lease
  • $1.29 million net income*
  • Exceptional value growth prospects

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