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Significant development opportunity launches in Eastwood

Eastwood 1

Well known in the local community, 570 Blaxland Road, Eastwood, is an attractive ‘island site’ perched just 500 metres from the precinct’s cultural hub. The 1,557* square metre building comprises four tenancies across three office/retail levels and features a two-level car park. The corner site’s diverse tenancy mix, along with staggered expiries and the underlying mixed-use zoning, offers an attractive opportunity for both investors and developers.

 

Colliers selling agents Miron Solomons, Tom Appleby, Joseph Lin and Steam Leung have brought the long-held site to market and will take it to an online auction on Thursday the 7th of October at 10:30am.

Underpinned by a future development exit strategy, the asset has something for everyone; the strong covenants and floorplate flexibility will appeal to investors, vacancy of a large, north-facing tenancy will appeal to occupiers and the mixed-use 907 sqm* ‘island’ site will appeal to developers,” Tom Appleby, Director at Colliers, says. “The prime gateway exposure is unrivalled in Eastwood.”

The location is undoubtedly set to capitalise on the future growth of the precinct positioned in Sydney’s robust metropolitan market where quality investments with strong development potential are becoming increasingly scarce.

“Sydney’s metropolitan office markets have rebounded incredibly over the past 12 months as an increasing number of tenants continue decentralising, seeking cost-effective and convenient alternatives to the comparatively expensive, CBD options,” Miron Solomons, National Director of Colliers says. “We highly anticipate a competitive process here, considering the multiple and diverse options this asset offers. Rarely do we see a building of this size and scale offered with such appeal to developers, investors, and owner occupiers alike.


The recent nearby sales of
42-50 Rowe Street for $19,250,000 and 2 Progress Avenue for $18,000,000 in Eastwood are testament to the high investment demand and significant cultural appeal of the area.

 

“Eastwood is a dynamic and multicultural suburban centre in the north of Sydney, with over 40 per cent of its population born in Asia, including China, Hong Kong and South Korea,” Joseph Lin, National Director of Colliers Asia Markets, explains. “The property sits within the fast-transforming Eastwood Town Centre so we expect to see strong interests from Asian investors and developers competing in the process.”

 

*Approximate land sizes


Related Experts

Miron Solomons

National Director, Sydney Metro Sales | Investment Services

Sydney

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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Tom Appleby

Director, Sydney Metro Sales | Investment Services

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 November 2021, Tom has been involved in over $450,000,000 worth of property sales.

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Joseph Lin

National Director, Asia Markets | Investment Services

Sydney

Joseph is the National Director, Asia Markets based in the Sydney CBD Investment Services team. He has a key focus of working with Asian Ultra-High-Net-Worth investors and institutional capital partners, having previously facilitated multiple high-profile domestic and cross-border transactions in and from Asia. 

Prior to joining Colliers International, Joseph was the Managing Director of CBRE Taiwan office where he led a team of 200 staffs across multiple business lines. Through his understanding of Asian clients' requirements in various stages of property ownership and his extensive management experiences across a range of expertise, Joseph has been the go-to-person for his Asian clients, connecting the right specialists to provide the best-in-class practices and expert advices and to deliver exceptional value for his clients.

With his unique skills in Architecture and Project Management, his exceptional experiences in international transactions and his language abilities in Mandarin, Cantonese and English, he has successfully facilitated the offshore and onshore Asian clients to expand and/or divest their real estate portfolio in Australia.

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Steam Leung

National Director, Asia Markets | Investment Services

Sydney

I am currently the  National Director of Colliers International (Australia)  Asia Markets team in the Investment Services department, and have worked for Colliers International for over 28 years. With the rise of Asian investments into Australia, my focus is to facilitate the needs of domestic and international Asian clients. I have an extensive experience working with the Chinese community, and work closely with my colleagues to introduce new international clients / buyers for our listings. As a senior operator, my role at Colliers International focusses on the Sydney CBD and metro surrounding area, specifically targeting the  CBD South, Haymarket and Chinatown regions, where I work closely with my clients to achieve the best results for their properties. I have extremely strong networks with the local Chinese community and I assist and advise many Asian clients, investors and developers. I speak Cantonese and Mandarin fluently and frequently travel to Asia, such as Hong Kong, Macua, Shenzhen, Guangzhou, Shanghai and Beijing.

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