‘Social distancing’ now a commercial property selling point

The soon-to-be-fitted out space at 281 Elizabeth St, Sydney.
The soon-to-be-fitted out space at 281 Elizabeth St, Sydney.

Social distancing is the new hot ticket in commercial property with agents highlighting the benefits of owning a COVID-safe workplace.

A 600sqm ground floor retail and commercial premise – located within a stone’s throw of Hyde Park –  has hit the market in Sydney, but it is not the location being advertised to get buyers excited.

Instead, the property is being touted as “a social distancing dream property”.

Situated on the ground floor at 281 Elizabeth St, the space has its own private entrance and plenty of room for an office or retail layout, allowing staff and customers to enter and move about at safe distances.

An artist’s impression of 281 Elizabeth St in Sydney.

“In these changing economic times when keeping businesses open and profitable is of number one consideration, all companies need to consider how to retain valuable staff in our workplaces and how to create an inviting atmosphere for clients to visit safely,” Belle Commercial Sydneys senior director Andrew Vines says.

“Humans were created for close face-to-face communication and Zoom software cannot replace the important human element needed to strike large business deals or discuss important and sensitive workplace topics.”

Medical centre investors have been eyeing off the property, along with law firms – due to the building being within 40 metres of the Downing Centre and Family Law Courts.

Meanwhile, interest has been received from a trade union looking to shift their workforce.

The space is also primed for retail investors with any future tenants offered great exposure and signage rights to Elizabeth and Castlereagh St, and strong foot traffic creates  by the shopping outlets and Chemist Warehouse located nearby.

Listed for only $6,788,888  the space has amenities including underground parking, access to a 24-hour concierge and the building’s pool and gym.

The statutory levy is another appealing point at $73 per sqm – well below the average CBD office building range for the area, which is typically between $100-$200 per sqm.

Fittingly, interested buyers can practice social distancing while researching the property, with virtual tours on offer.

Expressions of interest close June 30.