AN ICONIC ENTERTAINMENT VENUE WITH SUBSTANTIAL DEVELOPMENT UPSIDE
Savills & CBRE as joint exclusive agents, are excited to offer for sale by way of Expressions of Interest ‘Albion House’, 10-24 Flinders Street, 4-10 Taylor Street & 2 Sturt Street, Darlinghurst (Albion House).
‘Albion House’ is zoned B2 Local Centre under the Sydney Local Environmental Plan 2012. It has a maximum permissible building height of 15m-18m and maximum FSR range of 2:1-3.5:1 and the potential for a maximum GFA of 3,750sq m* (STCA) across four story’s.
The City of Sydney recently earmarked Oxford Street as a key priority area for renewal and revitalisation within the Local Strategic Planning Statement (City Plan 2036) endorsed in 2020. On the 5th May 2021, the City of Sydney released a draft planning proposal for the Oxford Street Creative Precinct, with the objective of reinvigorating what has long been one of Sydney’s iconic places.
The draft planning proposal supports that the FSR and height limit is increased to 3.5:1-4:1 (with additional bonuses totalling 0.8:1 available) and 18m-23m, respectively, which will allowed for 6,000 sqm* (STCA) of allowable GFA across five to six story’s.
Key features of the properties include:
• Rare opportunity to secure a freehold asset occupying a prime corner position on one of Sydney’s iconic thoroughfares (Available for only the second time in 80 years).
• Prominent 1,300sq m* corner site with significant 35m* frontage to Flinders Street & 26*m to Taylor Street.
• Elevated position with Sydney CBD skyline and district views
• The existing improvements are substantially underdeveloped with recent planning changes allowing an FSR increase from 2.0-3.5:1 to 4.3 – 4.8:1, subject to necessary consents.
• Significant development potential with multiple value-add options.
• Unique 24-hour liquor license
‘Albion House’ is being offered for sale via an Expressions of Interest campaign closing at 4:00pm (AEST) on 14th October 2021.
For more information or to request access to the due diligence room, please contact the exclusive selling agents.
|n a||Expression of Interest||1000.00sq m||Available|