Chinatown Gateway at One Dixon St, Haymarket to hit the market amidst strong investor demand.
Sydney’s Chinatown precinct in the southern part of the CBD continues to reap the benefits of the NSW Government’s $3.4 billion infrastructure plans including Darling Harbour Live, the new International Conference Centre, Town Hall Metro Line and the new light-rail, and savvy local and offshore investors are anxiously awaiting the opportunity to own a piece of this renewed landscape.
Due to this demand, a unique and extremely rare retail investment portfolio in the heart of Chinatown is set to hit the market through Jordan Lee and Steam Leung of Colliers International and Andy Hu, Dominic Ong and Linda Zhu of Knight Frank on behalf of a private investor, who is also the original developer of the 16 year old building.
“Chinatown Gateway at One Dixon” is a boutique retail portfolio offering with abundant dual street frontage to a vibrant and transforming Haymarket precinct in Sydney’s arguably Number One tourist, cultural and retail destination.
Located at 1 Dixon Street, Haymarket, this fully leased retail portfolio contains four diversified tenancies over a lettable area of approximately 2,513 sqm and generates an estimated net income of $1.129 million.
According to Jordan Lee, Associate Director, Asia Markets, Investment Services for Colliers International, “This is an extremely rare retail offering in the heart of Chinatown, with dynamic day and night trade, boasting a prominent corner position with a high level of foot and car traffic.
“There will be a lot of interest from both onshore and offshore Chinese investors, especially those who understand the retail aspect and prominent location within Sydney” said Mr Lee.
Number One Dixon occupies an entire city block bounded by Dixon, Goulburn, Liverpool and Harbour Street with the main entry located on Dixon Street, Chinatown and the rapidly growing western corridor/midtown precinct.
Dixon Street is the gateway and main thoroughfare to Sydney’s Chinatown, the renowned retail destination for locals and international tourists. One Dixon is located on the corner of Goulburn and Dixon Street at the exclusive end of Chinatown, which will benefit from significant infrastructure investment.
According to Andy Hu, Director, Asian Markets, Capital Markets for Knight Frank, “Chinatown continues to be a tightly held CBD precinct, with a range of quality tenants drawing in high levels of patronage every night of the week”.
In the immediate vicinity, ‘Darling Harbour Live’ is set to deliver the Sydney International Convention, Exhibition and Entertainment Precinct (SICEEP) – a new precinct at the southern end of Darling Harbour which will include a new International Convention Centre, Exhibition Centre, 900 room hotel complex, expansion of public open space including upgrades to Tumbalong Park, and the development of ‘Darling Square’ a new residential and creative Neighbourhood.
‘Darling Square’ (formerly known as ‘The Haymarket’) will be a new residential and creative city Neighbourhood, comprising approximately 1,500 apartments, premium accommodation for 1,000 students, commercial office space with public parking, retail space of approximately 8,000 sqm, and the centerpiece, being ‘The Darling Exchange’ – a circular tower designed by leading Japanese architect, Kengo Kuma Architects, comprising community and retail uses.
The vision for Darling Square is to attract a bustling community that can work, live, shop and play in a great new city neighbourhood, and to form connections with Chinatown, Ultimo, the CBD and the south of the city for residents and visitors alike.
A 100% interest in “Chinatown Gateway-one Dixon” is offer for sale by public Expression of Interest closing 4pm (AEST) on Wednesday, 5th of October 2016.