A retail asset in one of Australia’s most prestigious luxury precincts is on the market in the Sydney.
Colliers are selling the 265sqm Shop 2 at 350 George Street in the Sydney CBD, neighbor to Paspaley, Burberry, Louis Vuitton, Apple and other luxury retailers.
The space is currently tenanted by premium fashion and street footwear store Subtype, subsidiary of the ASX listed retail giant Accent Group. The fully leased retail shop has a WALE of 3.75 years and represents one of the most attractive CBD retail investment opportunities.
Strata office sales within the same building sold last year fetched between $25,000 - $30,000 per sqm.
“This asset is based in a seven-storey heritage building on an iconic corner position on one of Sydney’s busiest streets, in direct proximity to the light rail, Wynyard Station and Angel Lane, one of the city’s most popular restaurant and entertainment precincts,” said Joseph Lin, National Director, Investment Services at Colliers.
Steam Leung, National Director, Investment Services at Colliers said, “We expect a high level of interest in this property, having seen limited transactions of this type occurring over the past year – particularly with leased retail properties which are achieving strong rental returns”
Shop 2, 350 George Street is being sold via public auction on the 25th of March, 2021.