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Premium King Street Wharf office smashes $2.6M

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.

*Approximately.

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