Sydney, 10 May 2016 – A Mascot office building at 40 Ricketty Street has been listed for sale, representing the first on-market campaign for a South Sydney office property in close to three years.
CBRE’s Keegan Ridings and Peter Vines have been appointed to market the high profile building, which is expected to attract interest from owner occupiers and investors.
“This is an extremely rare opportunity to acquire a freehold commercial asset in the tightly held suburb of Mascot,” Mr Ridings said.
“The property is strategically positioned, just 100 metres from the new Mascot
Town Centre and is within 500 metres of Mascot Train Station. It is also close to the proposed WestConnex connection on Gardeners Road and benefits from excellent main road exposure given its dual street frontage to Ossary and Ricketty Street.
The five-level property has a net lettable area of 5,185sqm and includes 25 car spaces. It also features a dedicated substation at the front of the property with 800 amps of power.
The top floor features a caretaker’s unit and cafeteria area, which could be converted to additional office area subject to the relevant planning approvals. The balance of the rooftop is an open air terrace area featuring 360 degree views.
Mr Vines said the building’s location in the Mascot Station Town Centre Precinct was expected to be one of the key attractions for purchasers, with the area identified as a Growth Centre in state and local planning strategies.
“The once industrial area of Mascot is being progressively gentrified, with $1 billion of residential and hotel developments in the planning stages,” Mr Ridings said.
“A total of 19 developments valued at over $20m are proposed around Mascot Train Station alone, which will significantly transform this precinct.”
Expressions of Interest in 40 Ricketty Street close June 14, 2016 at 3pm
