The continuing strength of the apartment development market together with the desire to relocate their offices into the CBD of Sydney has encouraged the CFMEU to list its head office in Lidcombe for sale.
6-8 & 10-12 Railway Street consists of over 6,000sqm of land, with the vendor providing holding income while it continues to occupy the offices, on a flexible lease arrangement, for up to two years. This will allow a purchaser time to secure a development approval which could exceed 30,000sqm of GFA under the B4 mixed use zoning.
Jon Chomley and Guillaume Volz of Colliers International and John Surian of Raine & Horne Commercial Parramatta have been appointed by the Union as exclusive agents for the marketing and sales process.
The site is only two minutes’ walk from the Lidcombe railway Station, which provides direct access to the Sydney CBD to the east, Parramatta to the West and Liverpool to the south west.
The Lidcombe CBD is opposite the train station and provides a mix of retail amenities including a wide variety of restaurants and cafes. The site is also close to excellent school facilities, hospitals and a multitude of golf courses, providing extensive amenity for occupiers.
According to Jon Chomley, National Director, Capital Markets at Colliers International, “This is an outstanding site within the undersupplied Lidcombe market and given its close proximity to the train station and retail heart of Lidcombe, we expect strong interest given the exceptional facilities nearby.”
Guillaume Volz, National Director, Development Sites Residential at Colliers International, believes that there will be strong interest in the site from local developers that understand the metrics of the Lidcombe market.
“Lidcombe has had limited development of apartments over the last five years so the market is keen for more opportunities, particularly where there is some level of holding income on the site” he said.
The site is for sale by Expressions of Interest closing on 9 March 2017.
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