Office suites in heritage listed building hit the market

New opportunities have hit the market for investors and owner occupiers to purchase office suites in the Sydney CBD’s midtown precinct.

Suite 802 and suite 806 on level eight at 250 Pitt Street are offered for sale by public auction by Ray White Commercial South Sydney agents John Skufris and Domenic Severino on behalf of Wexted Financial Advisors.

The building is located on the eastern side of Pitt Street between Market Street and Park Street, opposite Sydney Hilton and the Galeries Victoria, and adjoining the Sydney Metro construction project.

Built circa 1926, the site was home to Darrell Lea and Penfolds Wine Store for decades.

Following an extensive upgrade around 2004, the building is now an established destination for businesses including jewellers, education and migration agencies and project space requirements.

The demand for heritage listed buildings has been highlighted by three other recent sales for offices ranging from 26sqm – 58sqm nearby on level 3 at 325 Pitt Street, the former YMCA headquarters.

“Suite 802 is 35sqm and Suite 802 is 26sqm and recent sales we have completed in the building range from $14,875psm – $15,864psm respectively,” Mr. Skufris said.

Mr. Severino said an office of 44sqm known as Suite 505 sold for $698,000 and another office of 32sqm known as Suite 704 sold for $475,000.

“Both suites were plumbed and had some existing fit out and were sold by private treaty to owner occupiers,” he said.

The property will be sold via auction on June 28.

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