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The changing face of Rozelle - new medical precinct and public mural

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In an off-market transaction this month, 670-672 Darling Street, Rozelle, was sold for $8.2 million to a private purchaser on behalf of the Isaac family. Sold for the first time since 1999 with Colliers’ James Cowan, the freehold site sits on the corner of Victoria Street and Darling Street opposite the former Balmain Leagues Club.

Victoria Road has been somewhat of an eyesore for those living in the Inner West or travelling to and from the Western Suburbs for some time,” Mr Cowan explains. “The closure of the Balmain Leagues Club in 2010 and subsequent Westconnex program dramatically changed the retail and commercial landscape – but that is about to change again, and the locals will soon see the fruits of this labour.”

Along with the Westconnex M4-M5 link approaching completion, which includes the estimated $7bn+ Rozelle Rail Yard and Iron Clove Link initiatives that will provide cycling links, ease congestion on Victoria Road and City West Link and deliver more community space, the Sydney Eastern City Planning Panel granted approval for a 28,000m2 mixed-use development on the Balmain Leagues Club site.

The finalisation of planning approval for the Balmain Leagues Club is seen as a big win for the local area with
approval for 167 apartments, commercial space, a new public town square, a community arts studio, retail and the new Tigers Leagues Club to be built on the lower levels of the complex. Rozelle has seen further enhancement with Liquorland, Gabriel Motors, Wynstan Blinds and the famous rug store at 32 Victoria Road, with its perpetual ‘closing down soon’ banners, demolished and replaced with widened roads and footpaths.

The new owner of 670-672 Darling Street plans to take advantage of these significant infrastructure upgrades and transform the iconic 600sqm corner site into a new medical precinct. The 900sqm building is approximately 47 per cent vacant (by lettable area) with existing tenants including Rozelle Medical Centre and two commercial office tenancies.

The incoming purchaser intends to include a pharmacy to complement the high-performing medical centre, as well as ancillary medical users for the office space,” Mr Cowan explains.Further, a mural is intended to be painted on the Victoria Road boundary wall to include famous local identities including football stars [Benji Marshall, Blocker Roach and Wayne Peace], actors [Brian Brown and Rachel Ward] and potentially politicians like the former major Darcy Byrne.”

Mr Cowan is managing both leasing and mural enquiries for the property and is excited to see the Rozelle and Balmain precincts return, not only to their former glory, but in an enhanced and globally recognised light.

“From my recent campaigns I’m seeing unprecedented enquiry levels. For the first time I feel Rozelle and Balmain are on the global map and the associated enquiry levels from wider Sydney, interstate and buyers from Asia have increased dramatically,” Mr Cowan says. “This is an exceptionally exciting time and the completion of Westconnex and decision on the Balmain Leagues site will only further complement this growth.”

Mr Cowan’s recent campaigns include 350-352 Darling Street, Balmain (sold for $5.15m), 736 Darling Street Rozelle (sold for $2,320,000), Rozelle former TAB (sold $2,800,000) and 681 Darling Street, Rozelle which is presently on the market.

For more information on leasing and the commissioned mural at 670-672 Darling Street, Rozelle, please contact James Cowan on Mb:
+61 425 337 691.


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James Cowan

Director | Investment Services

Sydney

I am a Director within 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 a wide range of varying asset classes.

Prior to my five 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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