After 30 years of ownership, the Lewy family has sold the warehouse that was part of the former Cyclops toy factory in Sydney’s inner west for $38 million.
Located at 40-76 William Street in Leichhardt, the 6931-square-metre site houses a 10,060-square-metre, four-level commercial building rented to a self-storage facility.
The new owner is a private developer who plans to landbank the asset for the next three to five years before redeveloping the site. They intend to retain the existing warehouse shell but convert the building to residential use, with loft-style warehouse apartments.
Knight Frank agents Demi Carigliano, Scott Timbrell and Anthony Pirrottina advised on the sale and said interest came from owner-occupiers, investors and developers, both locally and from offshore.