Developer to sell commercial building in Surry Hills’ hospitality district

The net income of the building is $386,592.

A recently renovated inner-city commercial building has caught the attention of potential buyers due to its notable vendor.

Property developer Peter Metzner is selling the five-story commercial building at 78 Campbell St in Surry Hills, with the sale being managed by IB Property’s Shane Blackett and Steffan Ippolito.

The commercial building consists of four individual commercial tenancy levels and a basement.

The renovated inner-city building up for sale.

Level four of the building includes a rooftop tenancy with terraces that feature views of the city.

Levels one to three include 80 sqm of commercial office space and floor-to-ceiling glass windows overlooking Campbell St, with two and three already leased out.

Mr Blackett said the property is located near a number of popular restaurants including Pellegrino 2000, Nomad, Fire Door, Chin Chin, and the newly constructed Ace Hotel.
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The first three levels are leased for commercial offices.

“Location is an advantage for this property, being placed in the heart of Surry Hills’ hospitality and creative district.

“Buildings in this pocket of Surry Hills rarely come up for sale and being fully renovated and leased to high calibre quality tenants provides an investor secure income.”

A view of the level four bar area.

Peter Metzner runs hospitality and fashion marketing business ARC from the Surry Hills building and also owns a similar site at 58 Riley St in Darlinghurst – where the ground floor is occupied by restaurant Lankan Filling Station.

The current net income of the building is $386,592, and will be auctioned on March 2nd.

“In the current market we are seeing a flight to quality defensive assets and this property ticks all boxes being in the heart of Surry Hills and a moment’s walk into the CBD and major transport hubs,” Ippolito said.