Pittsway Arcade

Level Whole Bldg , 303 Pitt Street, Sydney 2000

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LEASED SOLD
  • Level Whole Bldg
  • Area m2 3,411m2
  • Sale Price EOI
  • Method of Sale Expression of interest
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Property for Sale

For sale by Expressions of Interest closing Thursday, 8th September at 5.00PM. A Rare Generational CBD Freehold Pittsway Arcade, 303-305 Pitt Street, Sydney

A true generational asset, occupying a premium Sydney CBD location in the centre of the CBD’s growth corridor. For the first time in 30 years the opportunity to own this rare freehold is underpinned by a number of short, medium and long term value-add opportunities. The 8 level free standing retail and commercial building that welcomes excellent natural light and a flexible floor plan design. The property comprises of 2,815m2 of office and 595m2 of retail space on the Ground and Basement levels, making up a net lettable area of 3,411m2.

Situated on Pitt St, the premises will benefit from 24/7 foot traffic and the $1.6 billion pedestrianisation and light rail project on George St. The space has potential for redevelopment or repositioning for alternate use (STCA). Investment Highlights:
  • Highly strategic 727 sqm* site with an extensive 19m Pitt Street frontage
  • Freehold eight level retail and commercial building of 3,411 sqm*
  • Substantial recent capital works undertaken
  • Benefit from the Sydney Light Rail and Metro projects
  • An excellent investment with opportunities to redevelop or reposition to an alternate use (STCA)
  • BEEC exempt
  • Occupancy at 95.95%
  • Zoning: B8 Metropolitan Centre
  • Tenancy: retail accounts for 44% net passing income and office tenants account for 54%
  • Net passing income $1,694,452* p.a. as at September 2016
  • Outgoings: $596,872* p.a.

Location

303 Pitt Street is located on the western side of Pitt Street between Bathurst and Park Street with ground floor retail and LG food court.

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