This article is from the Australian Property Journal archive
MELBOURNE-based fund manager Marks Henderson are selling their fully leased waterfront building, Wharf 10, in the Sydney CBD.
The PTW Architects-designed and John Holland-built building is located on a 5,764sqm site at 50-52 Pirrama Road, Pyrmont and spans five levels with 4,410sqm of lettable area over four levels.
Steven Tsang, Shirley Fan and Michael Stokes from Stanton Hillier Parker are managing the sale the of the prime harbour property via an expressions of interest campaign.
Tenants include the New South Wales Registry for Births, Deaths, and Marriages who relocated from Chippendale to Wharf 10 in 2023, taking up 2,166sqm or 49% of the building.
In addition to with Fortune 500, video gaming giant Activision Blizzard, who were acquired by Microsoft in 2022.
“The newly inked 6+5-year lease deal to Property New South Wales and phenomenal growth prospects of Pyrmont promise significant upside for Wharf 10, driven by major infrastructure enhancements,” said Tsang.
“Wharf 10 offers a world-class prestigious trophy investment with stunning views across Sydney Harbour to Barangaroo.”
The site is also complemented by secure basement parking for 40 vehicles and is located outside the Star Casino, Google’s headquarters, and Sydney Wharf Marina.
“Recent sales of office buildings in Sydney and North Sydney have predominantly involved Asian investors,” said Fan, director of Asia Markets at Stanton Hillier Parker.
“Positive market sentiment is emerging, with commercial properties boasting robust fundamentals attracting interest as counter-cyclical investments.”
The expressions of interest campaign for Wharf 10 at 50-52 Pirrama Road, Pyrmont is set to commence in early June 2024.
