Refurbished office building with leading renewable energy innovator tenant up for sale

An exceptional investment opportunity within β€˜Sydney’s key Growth Corridor’ with billions of dollars in public and private infrastructure projects has come to market in Sydney’s south.

The recently refurbished asset at 6 Ossary Street and 40 Ricketty Street in Mascot named β€˜Office HQ’ is anchored by an A-grade covenant and leading renewable energy innovator 5B, a global clean technology powerhouse.

With a gross floor area of approximately 5,638sqm and with valuable parking for 40 cars, the five-storey office building is 100 per cent leased with a WALE of 7.93 years.

The property is listed with the Colliers team of Miron Solomons and Michael Crombie, in-conjunction with Eugene Evgenikos and Steve Kruyer of Stanton Hillier Parker.  

β€œOriginally built as a workshop, this brand new designer office features high, exposed ceilings whilst being approved and engineered for an additional level to be added. This quality asset is an opportunity for investors to secure an exceptional freehold in one of Sydney’s most sought-after locations,” Mr Solomons said.

β€œBenefitting from the dual street frontage/profile and recently having undergone a quality fit-out and refurbishment, the asset presents investors with the chance to capitalise on the booming commercial precinct of Mascot. With record low interest rates and a limited supply, the property is positioned for growth in the tightly-held South Sydney market,” Mr Crombie added.

The building comes with large, adaptable floor plates of up to 1,496sqm and benefits from a multi-million-dollar refurbishment with significant depreciation benefits. It also comes with approval for an additional approximately 1,200sqm of floor space.

The Mascot property market has experienced significant growth with the expansion of NSW’s key business districts to the south and western regions in the past 10 years. With major businesses moving their headquarters or taking up space in the region, it’s evident that global companies have identified a growth precinct with significant upside.

β€œThis impressive asset has been designed to create a working environment that’s engaging, welcoming and functional, facilitating the comfort and productivity for the tenants,” Mr Evgenikos said.

β€œWe have seen the demand for commercial buildings throughout 2021 and now into 2022 reach an all-time high with consistent quarter-on-quarter growth further fuelling demand for such assets,” Mr Solomons said.

The property is located minutes from major amenities including Mascot Train Station, WestConnex, East Village Shopping Centre and Sydney Airport.

6 Ossary Street and 40 Ricketty Street, Mascot are offered for sale via an expressions of interest campaign closing on Thursday, 26th May 2022 at 4:00PM (AEST).

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