47-97 Marlborough Street, Surry Hills_Property for Sale

47-97 Marlborough Street, Surry Hills, NSW, 2010, AU

47-97 Marlborough Street, Surry Hills

Asset Description

JLL AND THE AGENCY ARE PRIVILEGED TO PRESENT FOR SALE FOR THE FIRST TIME IN OVER 50 YEARS, 47-97 MARLBOROUGH STREET, SURRY HILLS.

This significant offering comprises two adjoining character filled office / showroom buildings on an exceptionally rare, underdeveloped site of 3,413sqm* offering multiple development options and the potential for an additional 5,730sqm* GFA (STCA).

Originally constructed in 2 stages between 1914-1934 as the purpose-built factory for David Jones, the property has been extensively repositioned and is currently configured into highly desirable & sustainable office suites and showrooms.

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Attributes

Occupancy

97%

Land area gross

36,737 sf

Media

Investment Highlights

Investment highlights

An exceptional opportunity to acquire two adjoining character filled buildings, with four sides of natural light, ideal floor plate configuration, high 4.2m ceilings, and large double hung sash windows offering stunning district views.
Extensively refurbished over recent years, the assets are 97% leased on effective rents providing a secure and sustainable cash flow with strong rental growth.
Prime location within the inner city’s most desirable suburb the assets benefit from excellent proximity to transportation hubs, essential infrastructure, and an array of lifestyle amenities.
Access to Australia’s best performing office market Surry Hills which has the lowest vacancy rate of all 19 major office markets nationally at 6.8% as at Q1 2024 compared to Sydney CBD at 14.3%^
Existing NLA 8,710sqm* plus 49 car parking spaces and end of trip facilities
Estimated Net Income (fully leased) $3.45m*
5.5 star NABERS energy rating

*Approximate

^ source JLL Research

A 100% freehold interest in 47-97 Marlborough Street, Surry Hills is for sale via Expressions of Interest closing on Wednesday 12th June 2024 at 3:00pm (AEST).