Colliers and Gunning RE are set to test the appetite of Developers and Investors seeking to acquire a substantial commercial asset in Sydney’s city fringe at 107-113 Crown street Darlinghurst for sale by Daniel Gunning of Gunning RE together with Miron Solomons and Matt Pontey of Colliers.

107-113 Crown Street, Darlinghurst has been home to the City Gym since 1978 and over the years hosted fitness legends Arnold Schwarzenegger, Dwayne ‘The Rock’ Johnson & Hugh Jackman to name a few.

Centrally located on Crown Street in Darlinghurst, close to Hyde Park on the fringe this three-level warehouse conversion is Zoned B4 Mixed Use and at over 1,800 square metres of Gross Floor Area represents one of the most substantial holdings in Darlinghurst.

Daniel Gunning of Gunning RE together with Miron Solomons and Matt Pontey of Colliers are managing the sales campaign.

“Sydney’s Eastern Fringe has continued to attract significant interest from investors and developers who want the blended benefit of being on the footsteps of the CBD whilst at the same time maintaining the creative aspect that suburbs commercial markets offer their employees” said, Miron Solomons, National Director, Colliers International.

COVID-19 has placed a renewed focus on Sydney’s fringe office markets, which has in turn encouraged significant investment nearby to 107-113 Crown Street. Nearby on Oxford Street, AsheMorgan and development partner TOGA group announced the redevelopment of a new mixed use precinct on Oxford Street to create a commercial, boutique hotel, cultural space and laneway retail space which will no doubt continue the unabated progress of the city fringe.

Further recent news of 25hours Hotels by Accor having been secured by Boston Group & Central Elements’ for their development of the former Academy Twin Cinema at 1-11 Oxford Street as well as the recently reported sale of the nearby ‘No Birds’ site on William Street for $185m to prominent Eastern Suburbs developers Allen Linz and Rafi Assouline is promising as investment continues to be plunged into this important eastern fringe market.

“There is no other market in Australia at present that has remained as stable and consistent as Sydney’s city fringe, with capital continuing to flow and investors feeling comfortable and confident in the performance and underlying fundamentals of this dynamic and exciting market” said Daniel Gunning of Gunning RE.

“Sydney’s eastern city fringe has proven to be one of the most resilient and robust geographic patches in Australia, and with significant investment in the precinct and a continued push by employers to base themselves in areas that are more creative and dynamic, the eastern fringe looks set to continue to perform” Said Matt Pontey, Director, Colliers International.

107-113 Crown Street, Darlinghurst will be offered for sale by way of Expressions of Interest closing Wednesday, 3 March 2021 through Colliers and Gunning RE.