Over four levels in one of Sydney’s most iconic waterfront locations has come up for lease, offering an unrivalled opportunity to take advantage of both the rapidly expanding tourism and cruise sectors.

A total of approximately 1,880sqm in the Overseas Passenger Terminal on Sydney Harbour in The Rocks is available for lease across two tenancies, offering potential tenants exposure to cruise ship patrons and access to one of the city’s largest tourist hotspots. Available to be leased individually or together, the spaces are approximately 1,575sqm and 305sqm respectively.

The venue features multi-level spaces that are suitable for a range of retail uses due to the existing cooking and mechanical services, with unmatched transport options providing connectivity to the rest of the CBD and wider Sydney.

Offered with a 10-year term plus options, the tenancies are being marketed by Colliers Director of Retail Leasing Michael Tuck on behalf of the Port Authority of New South Wales.

“The opportunity to lease an absolute waterfront venue with strong foot traffic and front row seats to Australia’s most iconic landmarks is rare to say the least,” Mr Tuck said.

“We look forward to enhancing the retail offering for the Overseas Passenger Terminal which will serve the Circular Quay precinct as a destination for locals and visitors.”

The Rocks precinct is one of both Sydney and Australia’s most famous locations, attracting up to 2.9 million international and domestic visitors in 2019. Strong signs that a recovery is underway are already there, with Tourism Research of Australia data revealing spending in Australia reached a record total of $10.1 billion in the month of April 2022. While the number of visiting tourists is behind pre-pandemic levels, the research shows increased spending, with national average spend per night up $63 to $253.

Eating out or dining at a restaurant or café is the main reason for 89 per cent of people visiting The Rocks, highlighting the potential for hospitality venues.

Also boding well for the area is the return of the cruise sector, which has a direct impact on the Overseas Passenger Terminal. The allowance of cruise ships from April 2022 has already had an impact and is anticipated to generate billions of dollars for the NSW economy.

“Prime retail locations in the Sydney CBD continue to thrive on the back of increased consumer appetite for physical shopping experiences and food and dining. The iconic location on Circular Quay will continue to be supported by the strong recovery in overseas tourism to Sydney, having grown +106 per cent since March 2022,” Associate Director of Research Nik Potter said.

Government investment in the CBD like the completion of the light rail project and events like the Vivid Festival and Forage in The Rocks continue to have a major impact on the experience of tourists, and the historic nature combined with a plethora of dining choices and historic offerings ensures demand for space is high well into the future.

The Overseas Passenger Terminal is for lease via Registration of Interest, closing 18th November at 2pm (AEDT).

To request leasing information please contact the leasing agent Colliers Director of Retail Leasing Michael Tuck via the below contact details.