This article is from the Australian Property Journal archive
THE historic former General Pants headquarters at 25 King Street in Sydney's CBD has been listed for auction.
The property will be auctioned on September 9 through CB Richard Ellis’ Ari Danas and James Aroneym on behalf of local publicans the Gravanis family.
Danas said small freehold buildings with such prominence and exposure are rarely offered for sale in the CBD.
He added that the evolution of the King Street Wharf office and restaurant precinct, and developments such as those of the new Westpac headquarters, was underpinning investor interest in the CBD’s western corridor.
Danas expects 25 King Street to appeal to a wide cross section of buyers, given its high profile corner location and future potential.
“Subject to the necessary approvals, the building could be adapted for various uses, including corporate office accommodation, colleges, retail, hotel/bar/accommodation complex, or residential conversion,” he continued.
The King Street property was developed in 1891 to provide commercial and residential accommodation for the City Bank of Sydney. Regarded as one of the finest examples of the “Queen Anne Revival” style of architecture in central Sydney, the sandstone building was restored in 1976 for commercial office use and won a RAIA merit award.
The property underwent further refurbishment in 1998 and again in 2002 when it was utilised as the Sydney headquarters for General Pants.
The four-level building is located on the corner of Sussex Street, diagonally opposite the Slip Inn. The property has a gross building area of 1,100 sqm and incorporates a rooftop entertainment area offering views across Darling Harbour.
Australian Property Journal
