Potts Point apartment block owners unite to sell two buildings in combined offering
JLL appointed to market ‘once-in-a-lifetime’ listing in sought-after Sydney suburb
SYDNEY, 26 June 2019 – The strata owners of two apartment buildings in Sydney’s prestigious Potts Point have united to sell the assets as a combined opportunity.
JLL Director, Metropolitan Sales & Investments — NSW Michael Khouri and Head of Metropolitan Sales & Investments — NSW Ben Hunter have been appointed to take to market 91-93 Macleay Street and 10-12 Hughes Street via an international expressions-of-interest campaign.
The sites adjoin at the rear boundary of the Macleay Street block. Together, they comprise 43 apartments and seven retail spaces on a total of 1242sqm.
Mr Khouri said: “This is a once-in-a-lifetime opportunity. The address is a prime location within a unique high-growth micro-market enjoying sustained resistance to external market forces. An affluent demographic seeking style and convenience already established in Potts Point is now also propelling the gentrification of the neighbouring Kings Cross area.”
Known as AXUS Potts Point, the five-storey Macleay Street building stands on 939.6sqm and is zoned B4 – Mixed Use. The boutique development houses 34 apartments and seven retail spaces – four of these with street frontage. Tenants include hair salons, a beautician and day spa, and a liquor store and deli.
AXUS also has a landscaped rooftop garden with views of Sydney Harbour Bridge, Sydney Opera House and the city.
The three-storey brick building in Hughes Street comprises nine apartments. The 302.8sqm holding is zoned R1 – General Residential and has potential access for underground parking, subject to council approval.
Mr Hunter said: “This is a substantial opportunity in one of Sydney’s most desirable precincts which is fielding growing demand for high-end properties from overseas investors, empty-nesters, cashed-up downsizers and high-net-worth individuals.”
Within its compact footprint, Potts Point hosts a unique mix of Victorian terraces, Georgian-style mansions and classically inspired prestigious apartment buildings; heritage-listed Art Deco and lavishly appointed contemporary blocks.
The properties will be coming to market soon via an international expressions-of-interest campaign.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.