Darling Square Retail precinct in Haymarket for sale
A dining and retail precinct in Sydney has been listed for sale.
A vibrant dining and retail precinct in the heart of Sydney is up for sale and hailed an extremely rare and unprecedented opportunity.
The popular Darling Square Retail precinct, next to Darling Harbour and Haymarket, is listed with 100 per cent occupancy by 44 retailers from McDonalds to Starbucks along with restaurants, takeaway stores, coffee shops, bubble tea outlets and ice cream and dessert bars.
Agents Colliers are marketing the site at 70 Hay St on behalf of Lendlease, which includes the north east, south east and south west retail stratums.
Darling Square Retail is for sale through Colliers.
The precinct has 44 retailers from takeaway outlets to dessert bars.
MORE
Outer west Sydney suburb’s ‘impossible’ new price record
Is this Sydney’s most epic home extension?
Colliers’ Managing director of retail capital markets Lachlan MacGillivray said the unique and high-performing precinct featured 44 retailers across a footprint of 9639sq m, along with 100 per cent occupancy across 4516sq m of gross lettable area (GLA).
“Australian CBD retail precincts are some of the most tightly held, with investment opportunities of this scale, quality and reputation extremely rare,” Mr MacGillivray said.
“Underpinned by strong sales productivity and sustainable occupancy costs, the precinct has a secure platform for substantial rental growth.”
Darling Square Retail is between Darling Harbour and Haymarket.
The sale of Darling Square Retail has been hailed an exceptionally rare opportunity.
MORE
Puzzling ways workers are being lured back to offices
Cricket utopia: Pat Cummins’ childhood home for sale
Darling Square Retail’s impressive sales record includes a moving annual total of $64.7 million and a 61.8 per cent increase year-on-year, as well as sales productivity of $18,126 per square metre.
The popular site attracts a high level of foot traffic from locals and tourists while also being connected to the broader Sydney Metropolitan area through bus, light rail and train networks.
Completed in 2019, the Darling Square precinct has a mix of around 1500 residential
units, 26,000sq m of commercial office space, 1200sq m of retail community and leisure uses, 1300 bed student accommodation and a 590-room luxury hotel.
It is surrounded by other mixed-use projects including Sydney’s Western Harbour Precinct, Central Barangaroo and the new Sydney Fish Market.
Darling Square Retail is for sale via expressions of interest closing October 20.
MORE: Aussie house prices ‘set to soar 15 per cent’
Israel Folau pockets $400,000 profit as Wallabies defeat sinks in
