The former home of Sydney Italian eatery Fratelli Fresh on Danks Street in Waterloo has been listed for sale with price expectations of more than $25 million.
Addenbrooke, a Sydney-based property development company, has appointed CBRE’s Harry George and Scott Gray-Spencer, conjunctionally with Gunning Real Estate, to steer the marketing campaign for the 3-7 Danks Street property, which comprises a two-storey building with GFA of 4,250sqm.
Mr George said while the property traditionally held a strong connection with restaurants and food providers, having been the home of both Fratelli Fresh and Danks Street Produce Markets, its commercial potential would be a strong selling point.
“Off the back of gentrification of the southern CBD fringe, it is expected that this building will be repositioned to a mixed use development including commercial office, showroom and retail,” Mr George said.
“Office space requirements are changing, with tenants now seeking creative office space in locations such as Waterloo that are close to amenity and public transport. This converted warehouse will attract next generation tenants given its proximity to Green Square Station, future Waterloo Metro Station and amenity, via the East Village Shopping Centre and surrounding Danks Street cafe amenity.”
The property, which is underpinned by a 2,125sqm site area, is suitable for both owner occupiers and investors given its scope for single or multiple tenancy.
The property is being offered for sale Expressions of Interest closing May 9, 2018.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), 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 2017 revenue). The company has more than 80,000 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.