April Group secures Sydney waterfront office with its own wharf $12m negotiated by Savills
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Jun 2, 2021
April Group secures Sydney waterfront office with its own wharf $12m negotiated by Savills
April Group has purchased the freehold interest of 7 Cooper Street Balmain an office asset and the leasehold interest of the adjoining wharf from a private vendor for $12 million on a 3.87% yield. The deal was negotiated by Tim Grosmann and Lucy Abram of Savills Australia.
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Savills AustraliaApril Group has purchased the freehold interest of 7 Cooper Street Balmain an office asset and the leasehold interest of the adjoining wharf from a private vendor for $12 million on a 3.87% yield. The deal was negotiated by Tim Grosmann and Lucy Abram of Savills Australia. -
Savills AustraliaApril Group has purchased the freehold interest of 7 Cooper Street Balmain an office asset and the leasehold interest of the adjoining wharf from a private vendor for $12 million on a 3.87% yield. The deal was negotiated by Tim Grosmann and Lucy Abram of Savills Australia.
April Group has purchased the freehold interest of 7 Cooper Street Balmain an office asset and the leasehold interest of the adjoining wharf from a private vendor for $12 million on a 3.87% yield. The deal was negotiated by Tim Grosmann and Lucy Abram of Savills Australia.
With a prominent waterfront position along Sydney Harbour and just minutes from the Sydney CBD, 7 Cooper Street, Balmain is currently fully occupied by Australia’s largest employer of seafarers, Svitzer Australia under a four-year lease.
The property comprises three levels of office accommodation on a large 1,348sq m freehold site, along with 5,920sq m of leasehold interest in the adjoining wharf.
The deal was negotiated by Tim Grosmann and Lucy Abram of Savills Australiawho said “As office tenants re-assess their space requirements, there is strong interest in the suburban markets, especially with specific headquartered properties that have essential requirements, in this instance, a wharf. In the post-pandemic world, investors are aggressively pursuing these specialised alternative office assets.”
“7 Cooper Street’s large site area and exclusive wharf access coupled with the strong fringe location promises secure, lasting tenant demand.”
To request a sales analysis please email either of the selling agents via the below contact forms.
Important Information:
Contact details:
Tim Grosmann
Savills Australia
+61 421 042 722
Email
16178
16184
Tim Grosmann
