Castlereagh Club building for sale with $20 million hopes

Castlereagh Club building for sale with $20 million hopes
Castlereagh Club building for sale with $20 million hopes

The Sydney CBD home of the Castlereagh Club has been listed for sale a guide of around $20 million.

Set for sale for the first time in 23 years, 197-199 Castlereagh Street is currently undergoing a full refurbishment and is 100% leased to the Castlereagh Club on a 7+5+5 year net lease.

The Castlereagh Club also operate World Gym and Lynn Shangai restaurant out of the five level block.

"It is very rare that retail of such scale provides opportunity for private ownership," the marketing reads. 

Colliers International Sydney agents Vince Kernahan and Tom O'Neil are marketing the property in conjunction with Henderson & Horning's Will Mulvihill and Bill Rees.

It is expected a sale would represent a five percent yield. 

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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Sydney Cbd Castlereagh

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