This article is from the Australian Property Journal archive
THE home of Darlinghurst’s Super Club and ARQ Nightclub has been put back on the market.
The site is part of the fast-changing stretch on and around Oxford Street where the City of Sydney is easing development controls in a bid to breathe life back into the tired nightlife hotspot –triggering multiple offerings from vendors hoping to capitalise on developer demand.
10-24 Flinders Street, 4-6 Taylor Street, 8-10 Taylor Street spans 1,230 sqm and has potential for a maximum gross floor area of 3,786 sqm across four levels.
The site currently has B2 local centre zoning with a maximum permissible building height of 15 to 18 metres and floor space ratio of 2.0 to 3.5:1, but the Council’s proposed changes would bump this up to between 3.5:1 and 4:1, with additional potential bonuses, and an 18 to 23 metre height allowance with 6,000 sqm of allowable GFA across five to six storeys.
Local vendor, Shadd Daniel Danesi has appointed Nick Lower, Selin Ince and Leon Alaban of Savills and Harry George of CBRE to manage the expressions of interest campaign. Only a few weeks ago, an amalgamated site at 4-24 Flinders St, 2 Sturt Street and 4-10 Taylor Street had been momentarily listed for sale through VIN Commercial.
VIN Commercial’s Vin Golchin told Star Observer, “Unfortunately the vendor has had second thoughts and asked us to refrain from any further sales activity until further notice…The vendor had the right to rescind at any time with immediate effect and this was actioned, as per their wishes”.
ARQ Nightclub at 10-24 Flinders Street is part of a two and three-storey brick building with ground floor retail and residential on the upper floors. On the corner of Flinders and Taylor Streets, EzyMart is the major retail tenant with ARQ and Toki Italian Inspired Restaurant occupying the remaining stores.
The two-storey brick building at 4-6 Taylor Street and 8-10 Taylor Street is operating as Bodyline Sauna and has frontage to Taylor Street with driveway access, while 2 Sturt Street is a two-storey purpose-built nightclub accessed via Shops 16-18 on Flinders Street with rear driveway access on Sturt Street.
Lower, who described the opportunity as “the first time offered for sale in 30 years”, said, “This is an ultimate acquisition in any portfolio.”
The sites are not identified as heritage items but are located in the Paddington Urban Conservation Area.
The listing follows the home of the Verona independent and arthouse cinema being listed for sale, making available 1,138 sqm of land on Oxford Street, while expressions of interest closed in June for the 1,142 sqm peninsular site just metres away at the home of the 64-room Arts Hotel and art deco Three Weeds pub.
Parts of central Oxford Street are already earmarked for an overhaul. Joint venture partners Toga and AsheMorgan are planning to revitalise three heritage buildings to deliver 13,000 sqm of lettable floor area, while Moelis Australia is planning a new hospitality precinct at Taylor Square after adding the Kinselas Hotel to its recently-acquired neighbour the Courthouse Hotel.
“The proposed changes to planning rules will allow for taller buildings along Oxford Street, in a bid to transform the tired strip into a massive cultural and creative precinct,” George said.
On either side of Oxford Street, St Vincent’s Hospital acquired LGBTQI+ icon The Green Park Hotel nearby to convert into a mental health clinic.
