City of Sydney sells Stockton House

Colliers International have sold a complete blank canvas on William Street, Darlinghurst

City of Sydney-owned asset, Stockton House in Darlinghurst has been sold for around $7m.

Miron Solomons, Matt Pontey and Nick Lumley of Colliers have sold 73-75 William Street in Darlinghurst, close to Hyde Park on the city fringe, the three level, 908sqm building is currently unoccupied presenting an attractive opportunity to reposition the building and to take advantage of the exceptional position. 

“The campaign attracted significant and strong interest with over 80 inspections of the property from a range of developers, investors and owner occupiers both onshore and off,” said Miron Solomons, National Director, Investment Services at Colliers International.

“Ultimately, the price and unconditional terms proposed by the successful candidate were acceptable to the City of Sydney and has delivered an exceptionally strong result for the City and future of William Street.”

The sale of Stockton House has delivered a timely outcome for the City as the city fringe commercial office market continues to experience some of the strongest trading conditions with vacancy rates some of the lowest experienced in years. 

Matt Pontey, Manager at Colliers International said, “The outcome and candidate that has been successful, will deliver a beautifully appointed commercial asset to the city fringe that will present a unique offering to the leasing market. 

This building is a complete blank canvas and a value-add proposition which explains the high interest in this well-located, quality asset.”
 
“There is strong demand for commercial property in the city fringe, evidenced by the auction of Watters Gallery which we sold at auction two months ago for $5.5 million.”
 

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Miron Solomons

National Director | Sydney Metro Sales

Sydney CBD

Miron joined Colliers International in 2013 with extensive expertise in both investment and insolvency services which remain his core specialisation.

With 20 years at the forefront of commercial transactions in Australia's most dynamic market, Miron has gained a reputation as an industry leader in the Eastern Suburbs and City Fringe markets. A consummate professional and tenacious negotiator, he brings with him a wealth of experience to Colliers International. Miron’s meticulous approach and key eye for detail enables him to deliver a truly first-class service backed up by a patient pragmatic approach and strong work ethic.

Miron’s continued specialisation in this highly diverse property arena has ensured that Colliers International offer an unrivilled level of experience and expertise. Combining these attributes with our results-driven approach and focus on customer service, Colliers International and Miron are proud to service a loyal network of clients.

 

 

 

 

 

 

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Matt Pontey

Associate Director

Sydney CBD

Matt is an Associate Director in the Sydney Metro Sales team, Investment Services specialising in the City Fringe & Eastern Suburbs selling commercial and retail investments.

Matt has a strong property education background with a degree in Property Economics from the University of Technology, Sydney and a further Post Grad in International Business providing him with a strong understanding of the fundamentals of property and a unique perspective of the Sydney Metro Markets.

Matt has an intimate knowledge of his market and understands the diverse dynamics of this complex and sophisticated market. He brings a unique analytical perspective and context to every transaction which comes with honing his skills in this market for over ten years in all facets of agency.

His unique and creative marketing strategies has seen he and his team succeed and deliver some of the strongest results ever delivered in the Eastern Suburbs & City Fringe market. His expertise in his market and understanding of its inner workings have afforded him an edge over his competitors and delivered for his client's time after time.

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