Overlooking Mascot Oval, the property at 146 and 154 O’Riordan Street in Mascot is suited to a multitude of uses, with the option to hold as an industrial development, develop into multi-level industrial or commercial premises, or take advantage of the approved DA for a hotel and serviced apartments.
The demand for property in Mascot has skyrocketed as the precinct has evolved due to its location close to Sydney Airport. Overall there is a varied mix of ground floor retail and amenities, institutional grade commercial precincts, hotels and a new grade of multi-level industrial buildings being delivered by Goodman, Logos and Charter Hall.
Colliers National Director’s Michael Crombie and Trent Gallagher have the exclusive listing on behalf of JKN Park, a company owned by Jean Nassif, with price expectations above $100 million.
“It’s unusual to see a site of this scale for sale in such a desired location. The immediate proximity to Sydney Airport, Port Botany, Mascot Railway and the motorways will be integral to the end development of this site,” Mr Crombie said. “The vendor has heavily de-risked this asset, with a DA as well as an amendment to the height enhancing the development opportunity.”
“This offering represents a gateway opportunity into the highly desired South Sydney market. The asset will be hotly contested as it will suit a huge buyer pool including industrial investors seeking to reposition, industrial developers for multi-level logistics, office, hotel, data centres and serviced apartments,” Mr Gallagher added.
With clear uninterrupted site lines and 150m frontage to O’Riordan Street, the property has a gazetted height increase across part of the site up to 44 metres and potential GFA of 49,212 sqm. The ability to increase current passing rents drastically also exists as all leases are due to expire in 2023.
Situated in a commercial hub, the site is just 400m from Sydney International Airport, 360m from Mascot Train Station and close to bus links readily available nearby. Arterial roads that provide access to the CBD and Port Botany add to the appeal.
146 and 154 O’Riordan Street in Mascot is for sale via an Expressions of Interest campaign closing Wednesday, 12th April 2023 at 3:00PM (AEDT).
Related Articles
