This article is from the Australian Property Journal archive
THE 10,845sqm mixed-used Edgecliff Centre in Sydney’s eastern suburbs has hit the market for the first time in decades.
Comprising a neighbourhood shopping centre and six-storey office building, it has been privately held for the last couple of decades. JLL’s Simon Rooney and James Aroney and Knight Frank’s Dominic Ong, John Bowie Wilson and James Parry have been appointed to market the site.
“We are seeing a real investor leaning towards these well-established, resilient and secure mixed-use investments in absolute core locations, which are very hard to replicate, particularly over major transport hubs,” Rooney said.
The centre has typical floor plates of 1,400sqm and net lettable commercial area of 7,691sqm, housing professional services, embassies and medical practitioners.
The retail area has a gross lettable area of 3,154sqm and is anchored by Aldi, with a further 24 specialty tenancies. The site also has basement parking for more than 200 vehicles.
Aroney said there are limited options available for contiguous space in the Sydney fringe market, with vacancy decreasing to just 4.3%, the lowest vacancy rate national, whilst vacancy in the outer western fringe precinct is at 4.4%.
Australian Property Journal
