Chippendale strata retail sells for record rate

An offshore purchaser has purchased a 48 sqm vacant retail space at Shop 1, 61-65 Regent Street, Chippendale NSW from a Private group for $682,000. 

The sale reflected a building rate a $14,208/sqm – a strata retail record for the precinct. 

Key features of the property include 48sq m (+4sq m bathroom area) retail Shop, large 10m street frontage with outdoor seating potential, one secure parking space, separate toilet on title plus rear loading dock access. The property’s previous rental was $725 per week plus GST.

The property is 600m to Central Station and 100m to Central Park development and within close proximity to the Spice Alley restaurant and UTS.

The deal was negotiated by Savills Australia who said the space would be suitable for (STCA): Bottle Shop, Wine Bar, Beauty, Nail Polish, Eye lash extensions, Bakery, Deli, Specialty Shop Cafe, Takeaways, Cakes/Patisserie.