A PRIVATE investor has purchased a premium King Street Wharf waterfront office at Suite 505/35 Lime Street in Sydney.
The exact sale price could not be disclosed but the figure is believed to be in the region of $2.6M to $2.7M.
The marketing and sale of the asset was led by Ray White Commercial NSW’s Sales Director Strata Sales Christian Minards.
Mr Minards said the sale represented a rate per sqm for the office component of over $14,630 per sqm, a record result for the development.
“The development of Barangaroo has created a surge in sale prices at King Street Wharf, which until recently have been priced at around $10,000 per sqm. We’re now seeing prices climbing to over $14,500 per sqm,” he said.
“The lack of supply of quality strata offices and strong demand from buyers is continuing to drive strata office prices.
“Suite 505 presented a highly sought-after opportunity within the tightly held King Street Wharf precinct and the opportunity attracted plenty of interest.”
The 176sq m* functional fitted-out suite offered three sides of natural light, large balcony with excellent views, and came with a secured 14sq m* car space.