Investor and owner-occupier opportunity with substantial expansion opportunities (STCA)
JLL has been appointed to market the former headquarters of Fremantle Media at 110 Christie Street, St Leonards.
This perfectly positioned, freehold building with vacant possession, presents an ideal blank canvas opportunity to immediately add value and meet a diverse range of occupier requirements (STCA).
JLL Joint Heads of Metropolitan Sales and Investments, Gordon McFadyen and Dylan McEvoy said the property is being offered on behalf of KordaMentha as Receivers and Managers.
“Set on a 910 square metre landholding, this three-storey commercial building is well-positioned in the heart of the bustling St Leonards precinct; a core hub within Sydney’s premier Lower North Shore that has undergone substantial urban transformation,” said Mr McFadyen.
“110 Christie Street is a ‘blank canvas’, offering three levels of commercial space totalling 1,608 sqm of NLA, excellent parking for 38 cars and a cold shell premises, allowing immediate value-add.
“The purchaser will also be attracted by the unique rooftop entertaining area that gives the building great character,” Mr McFadyen said.
“The property is located within the St Leonards priority growth precinct, which has undergone significant transformation and is earmarked to be further enhanced, which is expected to bolster long-term growth opportunities,” he said.
The site offers flexible E2 – Commercial Centre zoning, providing the opportunity to reposition the asset to suit a diverse range of occupier and tenant industries (STCA).
Mr McEvoy highlighted the significant development potential, stating, “The planning controls present a significant development uplift, allowing the total gross floor area (GFA) to be increased to 2,730 square metres and a maximum building height of 20 metres (STCA).”
“The property’s location offers numerous advantages being surrounded by an abundance of key employment, leisure and transport amenities, including the St Leonards Train Station (100m*) and the Crows Nest Metro Station (350m).
“The property is also situated close to the North Shore Hospital Precinct – one of Sydney’s major health campuses which is home to state-of-the-art healthcare facilities including the Royal North Shore Hospital, North Shore Private Hospital and the recently completed North Shore Health Hub,” Mr McEvoy said.
“St Leonards has undergone significant rezoning, bolstering extensive long-term population and strong employment growth forecasts.
“This is set to be further enhanced by the upcoming Crows Nest Transport Oriented Development (TOD) Accelerated Precinct rezoning, which will transform St Leonards into a thriving and dynamic employment precinct in the medium to long-term,” said Mr McEvoy.
110 Christie Street, St Leonards is for sale by way of Expressions of Interest, closing Tuesday, 12 November 2024 at 4 pm (AEST).
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