Pub goes up for sale, complete with Georgie the cockatoo
It is home to 19 tenancies across office, showroom and hospitality areas, generating a diversified income stream. With a mixed-use zoning, it offers flexibility for repositioning, partial owner-occupation or further leasing opportunities.
Williams said the aim was to create a building that would stand the test of time, 'both in design and functionality'.
Cushman & Wakefield's Miron Solomons and Matt Pontey are the agents for the sale.
Knock-down sale
Demand for older style 'knock-down' apartment blocks is rising, with developers looking at spending the cash to get a foothold into tightly held markets.
One of the latest is a waterfront property at 72 St Georges Crescent, Drummoyne. The 6859-square-metre landholding comes with 56.7 metres of prime frontage, and the zoning will allow for up to six storeys of premium apartments.
It is being sold by a collection of former tenants in the existing block of apartments. No price guide was disclosed. St Georges Crescent is a tightly held area.
It has an easy walk to Drummoyne Ferry, Sailing Club and Birkenhead Point Shopping Centre, and comes with its own boat ramp, plus development approval for a private jetty/wharf.
Loading
Steven Kruyer, specialist development site agent at Stanton Hillier Parker, together with Guy Yarden and Michael Stokes, is advising on the sale.
Over the bridge in the leafy Mosman enclave, 194 Spit Road is a 1928-built block being offered for the first time in 32 years.
Comprising four oversized three-bedroom apartments, each with parking and the potential to add more, the property is 500 metres from Balmoral Beach, and comes with a price tag of about $5 million.
Another Mosman property, at 161-165 Middle Head Road, recently sold for $20 million. Colliers' Paul Grasso and Tom Appleby are the agents on the sale.
Pitt Street
Private developer Anson is selling its 430 Pitt Street hotel site with price expectations of about $100 million. It was bought in 2020 just before the COVID-19 pandemic for about $91 million.
The project will deliver 318 premium guest rooms, with retail, dining and wellness offerings. With early works completed and development approvals in place, 430 Pitt Street offers an accelerated delivery timeline and reduced development risk.
It is surrounded by major infrastructure upgrades including the Central Precinct Renewal Program, the revitalised George Street spine, and the Light Rail corridor.
The hotel will be managed by leading international operator IHG Hotels and Resorts under the voco brand.
According to Colliers, with just 1397 rooms under construction, Sydney's hotel pipeline is exceptionally constrained, representing only a 5.3 per cent uplift on the current 26,523-room base through to 2028.
The approved site is being marketed by Colliers hotels team led by Karen Wales, Sam Abel and Steam Leung.
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