Inner city Sydney landmark at 308-310 Liverpool Street up for sale
This new listing offers potential buyers the rare rare opportunity to own a landmark building in the heart of Sydney.
The corner commercial building at 308-310 Liverpool Street has been made available to market for the first time in 30 years.
The Darlinghurst property is walking distance to King’s Cross, St Vincent’s Hospital and is close to the city centre and Double Bay.
With an auction guide of $2,200,000, the property is set to be made available on the 21st December and was bought to market by Little Real Estate manager Nick Muzha and Executive General Manager Aaron Del Monte.
For over 33 years, the previous tenant of the building owned the Japanese Yamma restaurant, and operated a similar restaurant in the QVB.
The family owners decided to sell and focus on enjoying life and retirement.
Their income was $152,000 per annum, however the tenants wanted to switch focus to their QVB restaurant and agreed to a mutual termination of the least at the end of the year.
Over the years, the premises have been transformed numerous times and often under occupation by multiple tenants at the same time.
With Covid restrictions behind us, the location could be a good investment for those looking to set up business in the inner city.
“Half of the potential buyers who have looked at this property are looking to split it up over multiple tenants and keep it as a potential restaurant and bar establishment,” Mr Muzha said.
“The laneway behind the property used to be bare, however artists have come in and transformed it into a garden. It’s part of a broader trend of bringing the colour and interest back into the area.”
Investors have been eyeing off inner-city development projects for quite some time, and with proposed council changes to floor-space ratios and height limits, the time might be ripe to purchase a commercial location sooner rather than later.
The site promises great yield returns and capital growth opportunities for investors, and could be the perfect next project for any land bankers, superfund investors, developers and entrepreneurs.
The property goes to auction on December 21.