1888 Balmain Post Shop hits the market

1888 Balmain Post Shop hits the market
1888 Balmain Post Shop hits the market

The two storey Balmain Post Shop is being offered for sale for the first time in over 25 years.

Siutated at 366B Darling Street, the Victorian free classical style building features a third floor clock tower and viewing deck.

It is being sold by James Cowan and Steam Leung of Colliers International. 

Built in 1888, it was designed by the Colonial Architect James Barnet costing £15,470.

With over 500 square metres of internal gross floor area plus outdoor areas.

Since construction, it has continuously operated as a Courthouse and Police Station with Australia Post presently calling it home on a lease that expires in 2022. 

“This building is a rare opportunity to acquire a community landmark in a tightly held location which meets the investment mandate of a very wide buyer pool” said James Cowan, Senior Executive Investment Services at Colliers International. 

“The added benefit of this property, and what makes it unique, is the versatility in occupation and generous returns it offers. Interestingly, the current passing rental is considered to be below market parameters which invites generous rental reversion upon lease expiry” 

Head of Asian Markets at Colliers International, Steam Leung, said there was "huge demand" in the city fringe and inner west for creative office space. 

“Additionally, the adjoining property (Balmain Telephone Exchange) enjoys DA approval for part demolition and creation of a town square style park area which will enhance amenity and expose the Balmain Post Office’s heritage façade,” Leung said.  

Colliers International recently secured the sale of the Redfern Post Office last October for $5,300,000.

Tags: 
Office Balmain

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