That’s a wrap! Balgowlah freehold on the market after 35 years

Australian company W. & F. Pascoe are selling their Balgowlah office and archiving space after operating their family-owned business out of the premises for 35 years.

Located at 7 Hayes Street, the microfilming and digital conversion service have been in operation for over 50 years and the owners have decided to sell down the property and retire.

Whilst the Pascoe family are emotional about selling the building, they are proud of what has been achieved.

The Vendors, Michael Pascoe, Kate Pascoe and Susan Rusden commented “Our family for many generations has grown up on the North Shore.  As kids we frequently visited Manly Beach and the amusements on the pier.  Our photographic and microfilm business was expanding when we purchased the Balgowlah building in 1985 and Hayes St ticked all the boxes, with plenty of room for secure storage of documents and the large planetary camera’s we used at the time.
 
Back in the 80’s and 90’s the area was much quieter, light industrial, but over the past 20 years it has seen a transformation into a bustling retail demographic.
 
The building has stood the test of time with very little renovation needed and even with the expansion of our business into digital archiving the building has served us well, and we could not have wanted for a better property”.
 
Colliers International’s James Cowan and Tom Appleby are handing the sale. The two storey freehold offers 517sqm of building area that consists of office and a quasi-warehouse space, and parking for 3-4 cars. 

The property has a favourable ‘B6 Enterprise Corridor’ zoning which permits business, office, retail and light industrial uses and a variety of other uses with consent. It shares a common boundary wall with Harvey Norman.

“This rare opportunity is ideally located in close proximity to major infrastructure projects which are likely going to be the "silver bullet" to stimulate the economy post Covid-19,” said James Cowan, Manager, Investment Services at Colliers International.

“Apart from its functional uses in the burgeoning industrial market, favourably, the property sits directly opposite the entry/exit point of a Woolworths Supermarket. This is likely to attract interest from retailers as well as traditional warehouse and office users.” James Cowan added.


Tom Appleby, Associate Director, Investment Services at Colliers International said, “7 Hayes Street is ideally located in a tightly-held pocket of Balgowlah, only 1km from the proposed  Western Harbour Tunnel / Northern Beaches Link entry/exit point.”

“The $14B project, which is set to be open to traffic by 2026, is set to cut travel time from Brookvale to the Sydney CBD by 27 minutes,” 

Multiple prominent retailers are already located in the precinct, including Harvey Norman, Bunnings, Woolworths and Aldi.


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James Cowan

Manager

Sydney CBD

I am a Manager of the Sydney Investment Services team & NSW Team Leader of the Restructuring Property Services business at Colliers International,  focusing heavily on the City Fringe & Inner Western Suburbs selling commercial and retail investments.

Prior to my three years at Colliers International, I was honing in on my analytical skills for four years as a commercial property valuer at Savills Australia focussing on premium quality investments across multiple disciplines. Combining these analytical skills with good communication skills and determination, I bring a wealth of experience and strategy for both my colleagues and clients alike

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Tom Appleby

Associate Director | Sydney Metro Sales

Sydney North

Initially joining Colliers in 2015 to work alongside National Director Jon Chomley as a Capital Markets analyst, Tom grew organically through the Colliers system, gradually applying his analytical skills, and gravitating towards, a sales role within the Investment Services team. Working closely with National Director Henry Burke, Tom established himself as a market leading commercial sales agent on the North Shore of Sydney. In 2020, Tom began leading the Sydney North Investment Services team.

Specialising in selling commercial / retail property (freehold and strata) and development sites (raw and DA approved) in the metro markets on the Lower and Upper North Shore, including the Northern Beaches, Tom has built a reputation for being a driven, personable, meticulous operator who is clearly passionate about real estate. Tom’s ongoing enthusiasm for the property industry mixed with his excellent communication skills and his honest approach to business has seen him regularly achieve results above client expectations.

Having grown up on Sydney’s North Shore, Tom possesses an intricate understanding of what’s happening in and around the Lower North Shore of Sydney, regularly attending local council meetings to stay on top of Council Governance.

Over the course of Tom’s 8 years’ in the property industry, Tom has developed a strong interest in site consolidations i.e. strata amalgamations and collective freehold sales.

Internally, Tom is actively involved in Colliers’ key initiatives, including Middle Markets, Portfolio Auctions, Restructuring Property Services (RPS), and Asian Investment Showcases, and forms an integral part of Colliers’ National Strata Practice Group and Colliers’ National Premium Investments Practice Group.

Tom sits on the Property Council of Australia’s (PCA) Future Directions Committee .

As at October 2020, Tom has sold over $300,000,000 worth of property.

To learn more, visit Tom's profile page to get in contact today.

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