History and location combine to create notable The Rocks offering17 March 2023
A unique and historic office building in Sydney’s The Rocks is set to draw strong interest from a range of buyers after coming to market.
Boasting timeless character in line with the region’s rich history, 117 Harrington Street offers six levels of creative commercial office with ground floor retail consisting of two separate buildings that were amalgamated in 2007.
The property, which comes with three street frontages, has an NLA of 1,417sqm and is the only Sydney office asset under 1,500sqm that possesses a NABERS energy rating of 5.0 stars or above.
The Colliers team of Joseph Lin, Vince Kernahan and Callum Cooke have the listing, in conjunction with Jonathan Vaughan and Andrew Hartford of Knight Frank. It is listed on behalf of vendor Terraform.
“Surrounded by some of Sydney’s newest developments including the Salesforce Tower and Quay Quarter tower, the property is poised to benefit from the continued evolution of the precinct. It’s location close to EY Centre, Grosvenor Place and the Four Seasons Hotel solidifies this position,” Mr Cooke said.
“Accessibility in The Rocks is key to its appeal, with both Circular Quay and Wynyard train stations just a short walk away, as well as the Light Rail and Sydney Ferry services. Infrastructure continues to be built in the region, with retail, food and beverage amenity all improving,” Mr Hartford added.
The building comes with a typical floor plate of 278sqm with key tenants including Adara Advisors, Artazan Property Group and Pharmacy Phusion. It has a WALE by income of 2.89 years and a current net passing income of approximately $1.214 million per annum.
117 Harrington Street, The Rocks is for sale via an International Expressions of Interest campaign closing at 4pm (AEDT) on the 24th of March 2023.