Paddington trophy designed by CDArchitects has $20m price guide ahead of March 2 auction
257 Oxford St, Paddington has a $20m price guide for a March 2 auction.
The Oxford St transformation continues with the listing of a trophy asset in Paddington with a price guide above $20m.
The 12 apartments and two shops at 257 Oxford St are on 888sq m of land and with 1301sq m of area.
The Colliers team of Matt Pontey and Steam Leung have the listing, which goes to auction on Thursday, March 2.
The property was designed by CDArchitects and has tenants including high-end gym Combine Air Training and online lifestyle store and design studio Alex and Trahanas.
The unit block features a rooftop with views out to the Sydney CBD, harbour and Moore Park.
MORE:
Iconic harbour site sells for $20.5m
House attracts 87 inquiries in four days
The designer shops and apartments are a part of the rejuvenation of Oxford St.
Pontey describes it as “a truly unique offering”.
“Paddington trophy assets are incredibly tightly-held with few transacting year-on-year, let alone essentially a brand-new building in such a high-end location,” he said.
“This is the perfect set and forget investment in the heart of one of the most highly sought after places to live.
“Its ease of access to transport to Sydney’s CBD and wider eastern suburbs, coupled with
the exceptional retail and restaurants at your doorstep, there isn’t a better place in Sydney to invest in this proven and resilient market.”
He says that the eastern suburbs market has remained consistent and strong, especially in the top end as investors seek out risk-averse markets with solid proven historical fundamentals.
An aerial view of the shops and apartments.
Leung agrees.
“We’re seeing an influx of investment and interest from Asian capital into the region as the strong market conditions and relative safety of these assets draws increased attention from abroad,” Leung said.
Oxford Street is in the midst of a rejuvenation, with several prominent redevelopment
opportunities recently approved and set to reinvigorate the region.
The Cambrian, a boutique block of 15 apartments, is being developed by fashion icon Robby Ingham, while nearby a $170m transformation of a 3,542 sq m development site on Oxford St was secured by prominent developer Fortis.
The building is positioned with ease of access to Sydney’s CBD and the wider eastern suburbs via several bus routes, bicycle tracks and a short walk to the light rail.
The precinct is also home to some of Sydney’s best restaurants, cafes and pubs all providing plenty of options for entertainment and dining out.
