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.