|
FKP Property Group’s Funds Management division today announced it had purchased historic Chard House at 171 William Street East Sydney for $7.15 million.
Built in 1924, the six storey commercial and retail building has a varied and colourful history.
In its early years it was the site of a sly grog shop run by “Queen of the ‘Loo” Tilly Devine, and when the building was part of ABC headquarters in the 1970’s, it was the first permanent home to what is now Radio Station Triple J.
FKP Executive General Manager Funds Management, Mr Adam Learmonth said the building’s city fringe location represented a great opportunity.
“For many years, William Street had a justifiably tawdry image, which is now being shed,” said Mr Learmonth.
“This is one of the last remaining areas on the fringe of the Sydney CBD to undergo urban renewal, but that process is now well underway.”
171 William St offers a net lettable area of approximately 1,441 sqm including 239sqm of ground floor retail space, six basement storage rooms and parking for 20 vehicles located in the neighbouring Horizon residential tower.
The building’s interior preserves its 1920’s character and features high levels of natural light, impressive ceiling heights and in addition to a passenger lift has a grand staircase that serves as a central atrium.
The property has been acquired for the FKP Core Plus Fund Two. The Fund plans to refurbish and rejuvenate the property, highlighting its heritage character.
“Once refurbished and modernised the property will offer highly unique and stunning office space to tenants seeking something different,” said Mr Learmonth.
Related Items :
|
