The Trocadero historic trophy heritage building for sale in Newtown

Inner Sydney's historic three storey Victorian Flemish style building in Newtown, The Trocadero, is on the market through Colliers International and Kellys Commercial Group.

The property at 69-77 King Street features 1,700 sqm of internal space on a land parcel of 1,108 sqm. Tenants include CanTeen.

James Cowan, Executive Investment Services at Colliers International said recent comparable sales in the area suggest the market price to be well above $10 million.

“This building is a rare opportunity to acquire a community landmark in a tightly held precinct, nearby to what is becoming Australia’s central Education and cultural Hub,” he said.

“The property certainly falls within the trophy asset category, originally being built in the late 1880’s as a roller skating rink and since that time has contributed greatly to the nineteenth century streetscape of King Street, Newtown, being one of the most elaborate facades on the street.

“The added benefit of this property, and what makes it unique, is the versatility in occupation and generous returns it offers. We are expecting an excellent result for the vendors, who have held the title to the property since the mid 1980’s’.

Matthew Meynell, head of Investment Services, Australia for Colliers International, said they are witnessing huge demand in the city fringe for creative office space conversions, as emphasized by the recent purchase of a Chippendale warehouse at 14-16 Buckland Street for $11.25m to UTS.

“We expect to see high net worth individuals, property syndicates and institutions continue to seek out land banking opportunities such as that of 69-77 King Street, Newtown to future proof their land area and enjoy the benefits the inner west and city fringe has to offer."