A 75 square metre retail space at Sydney’s Circular Quay has sold for $11.5 million, setting a new Australian retail record.
The rate per square metre was $153,358 — $20,000 above the previous record set just two months ago.
The site, currently tenanted by Guylian Belgian Chocolate cafe, is located on Opera Quays Boulevard and has a spacious outdoor dining area, offering picturesque views of the Sydney Harbour Bridge and the Opera House.
The property was sold by Colliers national director of Asia markets Joseph Lin and senior executive of Sydney CBD sales Angus Windred, in conjunction with Plus Agency’s GM Peter Li, executive partner Fiona Yang and sales manager Leanne Pan.
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“We received genuine local and interstate interest from well-known Asian demographic hotspots with particular influence from Sydney and Melbourne’s affluent high-net-worth privates,” said Lin.
“Having received over 100 enquiries and facilitated numerous contract requests, the property was sold just days prior to the scheduled auction date,” said Lin.
The NSW government has announced a $200 million commitment to rejuvenate the Circular Quay Ferry Terminal.
This article was first published by InsideRetail.