Sydney's iconic Sirius building for sale through Savills

Sydney's iconic Sirius building for sale through Savills
Sydney's iconic Sirius building for sale through Savills

The landmark Sirius apartment complex in Sydney's Millers Point has been listed for sale on behalf of the NSW Government.

They have enlisted Savills to market the 11 storey building, built in the late 1970s by architect Tao Gofers.

A registration of interest process is now open, to be followed by a formal expression of interest stage leading to an invitation to tender for selected applicants. The sale is expected to be finalised in the second half of 2018. 

Sirius was built to rehouse public tenants who had been displaced after a controversial redevelopment of the historic Rocks suburb during the 1960s and 70s.

A prominent examaple of Brutalist architecture in Australia, Sirius houses 79 one, two, three and four bedroom apartments. Most apartments have harbour and city views, with the rooftop a 360 degree view across both.

Sydney's iconic Sirius building for sale through Savills

Savills agents Simon Fenn, Stuart Cox, Neil Cooke and Michael Simpson are marketing the property through an international sales campaign with the opportunity for a variety of uses through the flexible zoning application to the 3,650 sqm site.

Savills NSW managing director Simon Fenn said this was a once in a lifetime opportunity.

“Sirius is positioned on some of the most valuable land in Australia and will certainly attract interest from around the globe, with a once in a lifetime opportunity to revitalise this prime site with a range of potential future scenarios including residential, commercial, hotel and retail or a mix of these.”

“Never before has a building with such unobstructed and striking harbour views within the heart of Sydney been offered to the market. A proposal like this is certainly one in a million,” he continued.

Sydney has already seen a major renaissance for the CBD core with approximately $7.9 billion worth of new construction and infrastructure earmarked for the Circular Quay precinct.

Redevelopment at the 3650 sqm site at 2 to 60 Cumberland Street will be limited by a set of rules, the State Significant Precinct State Environmental Planning Policy, which is now on exhibition.

The new owner is entitled to demolish or adapting the building in its current state for residential, commercial and retail use up to 8420 sqm of gross floor space and across two to four storeys. The height of the building must not exceed the height of the Sydney Harbour Bridge deck.

It also has to meet design excellence.

Proceeds of the sale of the building will go towards new social housing across the state. More than 700 purpose-built dwellings have been built and there are 372 properties under construction.

 

 

 

 

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 Landmarks

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