Mall Municipal building at 164 Hunter Street to be auctioned by Colliers International

28/09/2019 | 苏州美甲学校 | By admin | 0 Comments

Final piece of jigsaw sells AUCTION: The Municipal building on the corner of Hunter and Market Streets will go under the hammer on Thursday. It is expected to sell for in the vicinity of $2.5 million.

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AUCTION: The Municipal building on the corner of Hunter and Market Streets will go under the hammer on Thursday. It is expected to sell for in the vicinity of $2.5 million.

152 Hunter Street, left, is one of two buildings that will not be included in the redevelopment of Hunter Street mall by Iris Capital.

This building on Greenway Street, Wickham has sold for $550,000. It houses Dark Horse Espresso.

This building on Greenway Street, Wickham has sold for $550,000. It houses Dark Horse Espresso.

This building on Greenway Street, Wickham has sold for $550,000. It houses Dark Horse Espresso.

This building on Greenway Street, Wickham has sold for $550,000. It houses Dark Horse Espresso.

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facebookSHAREtwitterTWEETemailwhatsappcommentCommentsA building in pole position to reap the benefits of the $500 million Hunter Street mall redevelopment will go under the hammer on Thursday.

The heritage-listed Municipal building,facing the site of the old Queens Wharf rail bridge, will be auctioned by Colliers International.

It is expected to sell for in the vicinity of $2.5 million.

The building at 164 Hunter Street originally formed part of the overall mall site owned by Urbangrowth and the GPT Group.

However during the master planning process, two buildings –the Municipal building and a neighbouring building at 152 Hunter Street –were deemedsurplus to needs. They were broken off and sold to a private buyer who is offloading the former.

Colliers International executive Michael Chapman said it was an opportunity for a buyer to capitalise onthe investment in the precinct.

“It is directly opposite the development owned by Iris Capital, which will see 600-700 units delivered over between three and five years,” he said.“Then there will be the high street retail on the ground floor.”

The building is zoned mixed-use andhas a 20 metre height limit.A week before the auction, Mr Chapman hadfielded 67 inquiries.

“We’ve had commercial investors, owner-occupiers, student accommodation operatorsand residential developers interested,” hesaid.

“Wehad someone looking at putting an additional floor on the building to create a penthouse while leasing the balance of the space.”

HALF A MILLION FOR DARK HORSEA building housing one of Wickham’s most popular coffee haunts has changed hands for $555,000.

The strata unit on Greenway Street is currently split into two tenancies, with the Dark Horse Espresso cafe in the front tenancy and the rear owner-occupied by a hairdressing salon.

Another hairdressing firm has purchased the building and plans to occupy the salon once the lease-back term of the current owners ends. The cafe will stay on in the front tenancy.

“This completes a run of four properties in a row we have sold in this Greenway Street complex,” said agent Jason Morris of Raine and Horne Commercial.

“We believe it’sbeen popular for its funky village-type feel and proximity to the CBD and the harbour.”

Greenway Street, Wickham