Colliers has the privilege to offer for sale 700 George Street, Sydney, an extraordinary Stage 1 DA Approved development site occupying a premium corner position on George and Goulburn Street.
Strategically located in the bustling Southern CBD, the site provides close access to all the amenity associated with China Town, proximity to Town Hall and the emergence of the Central Station Precinct that will benefit from city shaping development and Public Infrastructure spend.
Benefiting from a Stage 1 Development Approval that has established the building envelope and potential to deliver a 40-storey tower, the concept plan proposes extensive retail at Ground and Lower Ground, with 204 hotel rooms plus 39 residential apartments.
The approved plan achieves 14,330sqm of Gross Floor Area, however the maximum GFA permissible for the site equates to 18,616sqm, which creates opportunities to extract further floor space from the development via the design excellence process and a Stage 2 DA. In addition, the location offers tremendous opportunity to revisit the predominant use for the site to include additional residential units or other uses such as Build to Rent or Purpose-Built Student Housing.
With limited opportunities for mid-scale development and the expected to post-Covid revival, this is tremendous opportunity to secure a key Sydney CBD development site.
Key features of the site include:
* Site Area – 1,238sqm
* Stage 1 Development Approval for a 40-storey building envelope
* Approval for 14,330m2 GFA
* Maximum permissible GFA of 18,616m2 (STCA)
* Approval for 204 Hotel Rooms and 39 apartments
* Extensive frontage to George St & Goulburn to maximise retail opportunities
* Light rail at doorstep
* Low supply of mid- price range residential CBD units
* Reposition opportunities for BTR or PBSA
* Proximity to China Town, Town Hall and Sydney’s newest commercial precinct, Tech Central.
700 George St is being offered for sale by International Expressions of Interest closing Thursday, 2nd December at 3pm.
For further details please contact the exclusive agents listed.
Remember to mention you found this property on DevelopmentReady.com.au
International Expressions of Interest closing Thursday, 2nd December at 3pm
1238 m² (*approx)
For a 40-storey building envelope
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