Opera Retail at Circular Quay listed for more than $40 million

Opera Retail at Circular Quay listed for more than $40 million
Opera Retail at Circular Quay listed for more than $40 million

An anticipated price point of more than $40 million is expected for the Opera Retail, the retail space underneath the luxury Opera Residences at Circular Quay.

It is being marketed as an unparalleled, once in a lifetime retail investment.

Spanning 980 sqm, the Opera Retail on the exclusive Sydney Harbour end of Macquarie Street will be anchored by premium tenants including high-end fashion brands and a two chefs' hat-restaurants.

The space is expected to attracted strong on and offshore investment.

Knight Frank's Andy Hu, JLL's James Aroney and Belle Property Commercial's Andrew Vines are marketing the commercial space.

“This is unique opportunity to buy into a dynamic site with unique attributes as Sydney’s world-famous cultural, tourism, leisure, commerce and transport hub," Hu said.

“The precinct plays many roles as a centre for business, tourism and transport, and also forms a significant part of Australia’s cultural identity.

The space will also be surrounded by a number of new developments coming to Circular Quay

“The multi-billion dollar projects at AMP Capitals’s Quay Quarter, Lendlease’s Circular Quay Tower, and Wanda Groups’ hotel and apartment development will add significantly to creating a vibrant mixed-use precinct in Circular Quay," James Aroney said.

The prime retail investment will sit beneath the luxury Opera Residences, which late last year year saw two apartments sell within days of each other, both breaking the Australian apartment price record.

First one of the penthouse apartments fetched $26 million, then a few days later the Salteri family paid $27 millon for another of the four bedroom apartments fronting the Harbour Bridge.

Price per square metre records also soared in the 104 apartment development, fetching over $96,000 per sqm.

 

 

 

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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