One of the first coveted North Shore freehold commercial investment properties to hit the market in 2017 looks set to be 754 Pacific Highway, Chatswood, with a net lettable area of 3,825 sqm parking for 90 cars and site area of 2,040 sqm and price expectations of circa $25 million.
This well located investment opportunity on the fringe of Chatswood’s bustling CBD and retail core provides an exceptional opportunity to purchase a boutique freehold commercial asset which sits within an area currently zoned for future retail, commercial or mixed use developments, subject to council approval.
This sales campaign is in the wake of strong results for similar natured freeholds sold in 2016 which included record sales results for 282-284 Victoria Avenue for $46,250,000 which represented a net yield of 3.9% and a rate per square metre of $8,300 for two C grade commercial buildings, 15 Help Street for $43,800,000 representing a net yield of 5.62% rate per square metre of $8,118 for a B grade office building in the core CBD of Chatswood. The major result for Chatswood in 2016 was the sale of The Zenith Centre by Dexus & GPT to Centuria and Blackrock for $279,000,000.
The property is being sold via an International Expressions of Interest & Select Tender Campaign through exclusive selling agents Henry Burke of Colliers International and Hugh Anderson of Sutton Anderson.
According to Henry Burke, Director of Sydney Metro Sales for Colliers International, “In 2016 the Chatswood market performed well with some great results; we experienced a huge amount of demand for freeholds and expect this trend to continue well into 2017.
“754 Pacific Highway is a perfect investment opportunity, with the asset being close to Chatswood transport Interchange, Chatswood’s retail core and has the added bonus of providing multiple value add opportunities including the potential for various types of future developments” he said.
According to Hugh Anderson, Director Sutton Anderson, “Chatswood is Sydney Metro’s largest and most energetic mixed use centre with a cohesive mix of commercial, retail, residential and lifestyle developments. It has everything: excellent transport, world class amenity, hotels, restaurants, cafes, a centre for the arts and fantastic parks and lifestyle elements. 754 Pacific Highway is perfectly placed to benefit from the always evolving Chatswood landscape” he said.
Mr Burke said there continues to be a large number of foreign investors and developers wanting to buy into the Sydney market.
“Chatswood is a sought after investment hub and already has many foreign owners, and for this reason we expect strong interest from a range of local and offshore investors and developers” he continued.
754 Pacific Highway is being sold via an International Expressions of Interest & Select Tender Campaign closing Wednesday 1st March 2017 through Henry Burke of Colliers International and Hugh Anderson of Sutton Anderson.
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