Sydney, September 25, 2017– The City of Sydney has appointed CBRE to market one of Surry Hill’s most recognisable landmarks in a move that will help reactivate the iconic Oxford Street commercial strip.
CBRE’s City Fringe team, comprising Nicholas Heaton, Gemma Isgro and Michael Khouri, will steer the marketing campaign for the 1-5 Flinders Street property – a freestanding building situated on a 350sqm landholding in the heart of Taylor Square.
Built in 1910, the 1-5 Flinders Street property - previously known as the ‘T2’ building – has had a number of uses over the years, including a Commonwealth Bank branch and bar venue.
The property, which boasts a NLA of 923sqm, is widely recognised by its unique exterior pattern, which is a result of City Of Sydney’s 2012 “Streetware” program. The pattern is an urban Aborignal artwork that is reflective of the building’s position within Taylor Square.
Ms Isgro said the sale represented an outstanding opportunity to be part of Oxford Street’s resurgence as a popular retail, commercial and residential destination.
“The future of this property has the potential to redefine Oxford Street, bringing new life to one of Sydney’s most loved and renowned streets,” Ms Isgro said.
“Given this property’s position on a prime island site in the trophy location of Taylor Square, 1-5 Flinders Street will attract strong buyer interest in the market.”
Mr Khouri said the property would attract strong interest from hospitality groups looking to capitalise on its prime inner-city position.
“The freehold nature of the building will also be of interest to owner occupiers looking to secure 100% ownership of their head office, as well as investors keen to acquire a slice of prime Sydney city fringe real estate.”
The property is being offered for sale via Expressions of Interest closing October 25.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
