This article is from the Australian Property Journal archive
DARLINGHURST’S iconic Sony Building, one of the largest warehouse conversions in the area, has hit the market with expectations of circa $35 million.
The freehold asset at 1-19 Hargrave Street, sitting less than a 1km east of the CBD, boasts more than 36m of frontage on a 1.489sqm land parcel with 3,903sqm in total GFA and is being listed with vacant possession ready for a variety of buyer types to occupy, develop or value add.
Matthew Meynell, Miron Solomons and Matt Pontey from Colliers have been appointed to exclusively manage the listing on behalf of the vendors, the Canberra-based Doma Group.
“Currently configured as a versatile office space across three levels, this icon of Darlinghurst is one of the largest warehouses left in the fringe precinct and presents as an exceptional asset,” said Meynell.
“With proximity to major transport links and key amenities, this premier position is not to be missed, with strong interest expected to come from smaller funds and nimble institutions looking for a strong investment with solid fundamentals,” added Solomons.
The property includes ample parking spaces compared to other buildings in the Sydney fringe city market, with its rooftop and on-grade options.
“The Sydney city fringe has become increasingly difficult to break into given the limited supply and private centric market, meaning properties of this scale are rarely available to market,” said Pontey.
The building was once the home of Sony Music with creative offices and sound studios on site.
Back in March, Doma Group had filed to upgrade the building, with plans spend $7 million removing the rooftop carparking and upgrade the lobby, add end-of-trip facilities and deliver cold shell office tenancies from the ground floor to level 2.
The expressions of interest campaign for 1-19 Hargrave Street, Darlinghurst is scheduled to close on 4 July 2024.
