Surry Hills retail lots listed for sale with $15 million plus hopes

Surry Hills retail lots listed for sale with $15 million plus hopes
Staff reporterDecember 7, 2020

The retail lots in the former Legion Cab headquarters in Surry Hills has hit the market for the first time. 

With over 50 metres of frontage to Foveaux Street, the mix of tenancies at 80 Foveaux Street is set to fetch more than $15 million.  

It is offered for sale via expressions of interest by Miron Solomons, Matthew Meynell, Matt Pontey and Nick Lumley of Colliers International.

The property spans over 1,000 square metres and sits less than 300 metres from Central Station.  

All Shops in the development have been leased to tenants including Sushi Train, Zeus Street Greek, The Bunker gym and high-end culinary school SBTA.

Net rental income across the four tenancies is about $659,300.

“This is the first time that we’ve seen brand new prime retail of this calibre offered in Surry Hills,” said Miron Solomons, National Director, Investment Services at Colliers International.

“Assets with four quality tenants, strong covenant and full amenities including parking and loading are extremely hard to find in Sydney’s CBD Fringe markets.”

“The ground floor retail captures 50 metres of frontage along Foveaux Street, perfectly positioned to take advantage to the huge amount of government investment and infrastructure being poured into the area.”

Nick Lumley, Executive, Investment Services at Colliers International said: “Sydney’s fringe retail markets are benefiting from close to $2 billion in infrastructure investment and increased demand from the rises in tourists, office workers, urban residents and international students.”

Expressions of Interest for the ground floor 81 Foveaux Street close November 13.

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