Colliers has brought to market an unparalleled opportunity to acquire six secure car spaces on a single title in Sydney’s prestigious Circular Quay precinct. Situated at Lot 51, 2 Phillip Street, the offering totals 85 square metres and is to be sold via public auction.

Offered with vacant possession, the spaces are located on the ground floor of The Quay, a landmark 29-storey residential building. With street level access, the car park is securely positioned beneath the building and just moments from Circular Quay’s major transport links, including ferry, rail, and light rail services.

“This is a tightly held and undersupplied asset class in the CBD,” said James Cowan, Head of New South Wales Investment Services at Colliers. “Reduced on-street parking, coupled with construction, rezoning, and conversions, have all contributed to a critical shortage of car spaces. This scarcity is expected to drive strong interest during the auction campaign.”

Neighbouring the newly developed Quay Quarter and several high-end residential and mixed use towers including Opera Residences, Bennelong Apartments and Lendlease’s One Circular Quay (which is under construction), the location is at the heart of one of Sydney’s most exclusive and high-trafficked areas. “The prestige and amenity of the surrounding precinct enhances the appeal to both investors and owner-occupiers,” added Cameron Colquhoun, Senior Executive at Colliers.

Cowan noted that the asset is difficult to price given its rarity, with unsolicited pre-campaign interest already exceeding $2 million. 

Lot 51, 2 Phillip Street, Sydney is for sale via a Public Auction on Friday 16 May 2025.

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