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Double Bay office block hits the market

Colliers and Ray White Commercial Eastern Suburbs have been appointed to auction Piccadilly Court, located at 356-366 New South Head Road, Double Bay, which has been long held by a local private family. 

The four-level commercial building is positioned with exceptional exposure in the heart of Double Bay and is anchored by Ray White Double Bay. The building acts as a crucial pedestrian thoroughfare between New South Head Road and Short Street, through to the Cosmopolitan Centre.

“Double Bay has its mojo back and is quickly turning into the go-to suburb to work, live and play. With pioneering developers such as SJD Property recently completing their 1788 Residences and Fortis with Pallas House well under construction in Bay Street, the future looks bright for this prestigious harbourside suburb” said Matt Pontey, Director, Colliers. 

Over the past two years there has been over $175 million worth of transactions in Double Bay. Local capital has recognised a huge opportunity with people seeking to be closer to home, work in smaller commercial hubs and avoiding travelling to the CBD.

Colliers co-agent, Ray White Commercial Eastern Suburbs, Grant Whiteman added “In all my years working in Double Bay, this has been one of the most exciting periods to be involved in, and witness a growing return to the golden years of the Bay”.

“There is no other market in Australia that has seen this type of sales activity whilst at the same time witnessing no detriment to value. ‘Flight to quality’ has often been a term loosely used in real estate, however if quality is the benchmark then Double Bay and in particular Piccadilly Court delivers an exceptional opportunity to all buyer profiles at the perfect time” said, Miron Solomons, National Director, Colliers. 

“We continue to see demand driven by local, national and international capital looking to secure defensive assets in tightly held areas”. Said Mr. Solomons

“The tide has truly turned for Double Bay with the mantra from developers being that if you build it, they will come - and they are coming” added, Matt Pontey 

He continued “Sydney’s eastern city fringe has proven to be one of the most resilient and robust geographic patches in Australia, and with significant investment in the precinct and a continued push by employers to base themselves in areas that are more creative and dynamic, the area looks set to continue to outperform” 

Grant Whiteman added “With historically low interest rates and capital looking to be active in 2021, there has never been a better time than now to invest in Double Bay to be a part of its exciting future.”

The property is tipped to attract interest of circa $15m with a diverse range of candidates expected from Australian funds, high net worth, developers, and owner occupiers. 

The property is being marketed by Miron Solomons, Matt Pontey & Guillaume Volz of Colliers and Grant Whiteman of Ray White Commercial Eastern Suburbs. 

356-366 New South Head Road, Double Bay will be offered for sale by way of Public Auction on Thursday, 18 March 2021 through Colliers and Ray White Commercial Eastern Suburbs. 


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Matt Pontey

Director, Sydney Metro Sales

Investment Services

Sydney CBD

Matt is a 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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Miron Solomons

National Director | Sydney Metro Sales

Investment Services LREA

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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Guillaume Volz

National Director | Development Sites

Residential

Sydney CBD

Guillaume is recognised as one Sydney’s leading agents that specialises in the sale of Residential Development sites.

Having sold some Sydney’s iconic residential development sites in recent years, Guillaume’s reputation and experience as a proven performer has earned him the respect and confidence of his clients and peers.

Guillaume is actively involved in assisting clients with acquisition and divestment strategies that requires a detailed knowledge of the project marketing and sales environment, as well as expertise in planning requirements and feasibility analysis.

With an established network of Asia Real Estate investors, Guillaume is part of the Colliers China Outbound Investment Group.

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