Phoenix Traffic Management has signed a fresh lease on a newly constructed strata unit, owned by Tarbit Properties Pty Ltd. The dual-level industrial estate at Unit 24, 8 Jullian Close, features a high clearance, 85 sq m warehouse. CBRE’s Nick Zenonos and Julian Barta negotiated the one-year lease term at $353 per sq m gross.
A local, private owner-occupier snapped up the freehold of 106 King Street being a vacant Heritage building for $23.5 million from hotelier Sam Arnaout, outbidding a number of global players in the retail/ fashion sector.
Close to Pitt Street Mall, the 312.5 sq m building covers a ground floor, basement and four levels of office space including a rooftop terrace, and the historically rendered brick building was designed in the Victorian Italianate style by the well-known architectural practice of Sheerin & Hennessy in 1887 and was heritage listed in 1989.
The building was sold by Miron Solomons and Harry Bui from Colliers International and Jordan Lee and Andy Hu from Savills Australia and forms part of a cohesive group of late 19th and early 20th century buildings and facades around the intersection of Pitt and King Streets.
Mr Solomons, national director, Sydney metro sales, investment services, said it was a record-breaking result for Sydney’s luxe hotspot. Mr Lee, joint state head, Asia Markets Savills Australia, added the on-market campaign saw a range of interest from around Australia and across the Asia Pacific region.
A private investor has sold a 6505 sq m office and warehouse at 62 Drummond Street to R&C Associates for $6.5 million. The buyer said the site offered an opportunity to secure a large 21,550 sq m holding. The key features include warehouse facility, showroom & office areas, a rear yard and access via four roller doors including a loading dock. Bawdens Industrial’s Barry Cawthorn and Victor Zerefos negotiated the sale.