Investor grabs a hold of Sydney rock climbing centre

An indoor climbing centre on Sydney’s Northern Beaches has rocked the commercial property market, having been snapped up for $4.87 million.

The Freshwater Village investment property, which is leased to bouldering centre Skywood Climbing, was picked up by a Sydney buyer.

The 805sqm Moore Rd site – located just 450m from Freshwater Beach – sparked massive interest after being put up for sale, attracting over 160 inquiries and several offers to purchase.

Agents Cushman and Wakefield, who managed the sale on behalf of the vendor, say Skywood Climbing’s newly signed lease until 2026, generating more than $300,000 in rental income per annum, proved to be a major selling point.

The Skywood climbing centre in Sydney’s north has sold.

Geoff Sinclair, Associate Director of National Investment Sales, says investors are hungry for “quality, strategically positioned assets with strong income potential”.

“This was on full display during the sale campaign for the Freshwater property, with multiple offers to purchase and more than 160 inquiries leading to an outstanding sale price of more than $6000 per sqm,” Sinclair says.

Despite demand from interstate investors, the Freshwater property was taken off the market by a local buyer.

“The site was sold to a Sydney-based investor who was attracted to the property due to its strong leasing profile and fixed annual increases along with the prime location in one of Northern Beaches’ most coveted suburbs, Freshwater,” Cushman and Wakefield Director of NSW Sales and Investments, Aaron McLean says.