Just moments from Pitt Street Mall, 106 King Street is a corner landmark building offering 312.5 square metres across the ground floor, basement and four levels of office space including a rooftop terrace, another rare offering in the CBD.

The historically rendered brick building was designed in the Victorian Italianate style by the well-known architectural practice of Sheerin & Hennessy in 1887 and was heritage listed in 1989.

At a glance:

• Beautiful Italianate historic building at 106 King Street in the Sydney CBD comes to market
• The building comprises retail space, four levels of office space, a rooftop terrace and basement with total area of 312.5 square metres
• Asset likely to attract strong national and international interest given the rarity of freehold CBD buildings offered for sale in Sydney for several years

 The building forms part of a cohesive group of late 19th and early 20th century buildings and facades around the intersection of Pitt and King Streets.

The asset is positioned to capitalise on the resurgence of the mid-city precinct including the new Light Rail and Dexus $170 million retail transformation to the MLC Centre which includes plans to revive the Theatre Royal.

The property is exclusively for sale through Miron Solomons and Harry Bui of Colliers International and Jordan Lee and Andy Hu of Savills Australia.

Collier’s International’s Miron Solomons said the landmark freehold would make a statement as an amazing corporate or creative HQ and that it would be offered with some exceptional plans to upgrade and refurbish the existing and vacant office levels.

“There has been a limited supply of assets of this class offered in the Sydney CBD over the last 12 months, which has further whetted the appetite of savvy investors,” he said.

“I don’t think we’ve seen more than a handful of freehold buildings in the CBD, and certainly not in this precinct, offered to the market under $100 million for a few years now.”

According to Jordan Lee, Joint State Head Asia Markets Savills Australia, local, national and international investors see high end retail as a status symbol and an asset class which is well known and respected across the Asia Pacific region, if not, the world.

“To be able to own a freehold heritage asset in the heart of the Sydney CBD’s retail precinct would be considered a dream come true for many buyers,” Lee said.

“We are expecting a wide range of interest from Australia and Asia, which should make for a very interesting auction.” 

106 King Street Sydney is for sale via auction through Savills Australia and Colliers International on Thursday 21 November 2019.

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