Council pays $17m for adjoining offices
Burwood Council has bought two neighbouring vacant west Sydney offices from UniSuper, which inherited them merging in 2022 with Catholic Super.
In Burwood, 31-33 Burwood Road, cost $17 million.
They contain 38 car parks and 2817 square metres – now for lease.
The sites cover 1161 sqm, zoned Mixed Use, 200 metres from a proposed Metro stop. They are also affected by the Burwood North Masterplan, where private real estate development is expected deliver product worth over $1.15 billion.
Development upside
Burwood North is about 13 kilometres from Sydney’s CBD.
Colliers’ James Cowan, Harry Bui, Catherine Scott and Steam Leung represented UniSuper
They said demand is high for assets like these, available below replacement cost.
The parcels also have longer term development upside.
“Burwood has been identified by the NSW government as the first strategic centre west of the Sydney CBD, supported by major infrastructure upgrades and a burgeoning commercial and retail environment,” the brokers said.
“The suburb is undergoing a generational transformation with 17 active projects each exceeding $5m in estimated construction value,” they added.
The agents are also managing the leasing campaign.
The deal comes six weeks since we reported the City of Newcastle bought a Sandgate industrial investment.
Not long earlier it purchased Bunnings Taree from Charter Hall.
The City of Sydney meanwhile bought a major Alexandria showroom investment in 2024 – finding a tenant in August.
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