Permit-ready Surry Hills office fetches $16.5m
A triple storey Surry Hills office permit-ready for a seven level residential complex has sold off-market.
The incoming owner, a developer, intends to proceed with the repurpose, after outlaying $16.5 million.
“An off-market EOI campaign [was run] with the eventual purchaser identifying the acute supply of shortage of premium residential in fringe CBD markets, in particular this prime Surry Hills location,” Laver Residential broker, Dennis Vertzayias, said.
The vendor is a 30-year industry veteran, he added.
Th deal comes four months since Time & Place, backed by ex-Casino owner James Packer, acquired a 3413 square metre commercial site once occupied by David Jones, with plans for luxury apartments.
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