A landmark Wollongong site is now expected to fetch more than $50 million.
The site at 90 Crown Street has been listed for sale.
It is situated on a corner site of about 3745sqm. It comprises a total of circa 9172sqm of net lettable area set across seven levels, in addition to 160 car parking spaces.
Travis Machan and Geoff Jones from our Wollongong office are the selling agents who are expecting the property to sell for more than $50 million.
“Beside the fact that the building is predominately underpinned by sought-after government tenancies such as RMS and DHS, investors are sure to be attracted by the mix of high-profile retail tenants like Mr Crown and First State Super,” he said.
“Many of the tenants are long-standing with a number recently renewing their commitment in the building up to as long as 2027.
“We expect extremely strong interest from a range of astute investors and property funds, and this will only further increase Wollongong’s growing reputation within Australia’s commercial property sector.”
90 Crown Street offers a secure long-term income stream, with the office component of the property 100 per cent let by a combination of government departments.
The site is for sale via Expressions of Interest, closing 4pm on November 22.