Commercial property in Sydney's Chatswood listed with $25 million hopes

A freehold commercial property in Sydney’s Chatswood has been listed for sale with price expectations of about $25 million.

The 754 Pacific Highway, Chatswood property has a net lettable area of 3,825 square metres. 

The property sits within an area currently zoned for future retail, commercial or mixed use developments, subject to council approval.

The property is being sold via an international expressions of interest and select tender campaign closing March 1 through selling agents Henry Burke of Colliers International and Hugh Anderson of Sutton Anderson.

“We experienced a huge amount of demand for freeholds and expect this trend to continue well into 2017,” Burke said.

There was a record sales result for 282-284 Victoria Avenue for $46.25 million, which represented a net yield of 3.9% and a rate per square metre of $8,300 for two C grade commercial buildings.

15 Help Street sold for $43.8 million, representing a net yield of 5.62% rate per square metre of $8,118 for a B grade office building in the core CBD of Chatswood.

The major result for Chatswood in 2016 was the sale of The Zenith Centre by Dexus & GPT to Centuria and Blackrock for $279 million.