_Commercial property on tightly-held Bridge Road in Glebe up for sale
The property at 43-47 Bridge Road, known as Orient House, consists of a two-storey building with 1,191sq m of building area on a 765sq m site located on the doorstep of the Sydney CBD just down the road – or 230 metres - from the newly-opened Sydney Fish Market.
It is being taken to the market via Knight Frank agents Anthony Pirrottina and Demi Carigliano in conjunction with McGrath Chief Executive Officer John McGrath on behalf of two private investors who have owned the property since the late 1990s.
Price expectations are north of $10 million.
The warehouse is occupied by an antique furniture store known as Orient House, who will be vacating the property later this year, providing a blank canvas for an incoming purchaser.
Mr Pirrottina said the Glebe property was expected to generate strong interest from a wide range of buyers due to its location and multitude of options.
“43-47 Bridge Road is a dream blank canvas warehouse with huge upside potential,” he said.
“Underpinned by favourable mixed-use planning controls allowing residential or commercial uses, it has strong potential for adaptive reuse or future redevelopment, subject to council approvals.
“The location is unbeatable, with the property situated at the doorstep to the Sydney CBD and surrounded by world-class amenity.
“Bridge Road has been one of Glebe’s most tightly-held and sought-after addresses, with only two substantial commercial freeholds having changed hands over the past decade.”
43-47 Bridge Road is just two kilometres west of the Sydney CBD and 50 metres from the Glebe light rail station. The location is further supported by key nearby amenities, including the planned Pyrmont Metro Station (1.15 km), Broadway Shopping Centre (1.1 km) and Wentworth Park (350m).
Mr McGrath said: “This is the most exciting location in Sydney at present for a building of this type.
“It is 200 metres from Sydney Harbour, the new Fish Markets and the Wentworth Park precinct, which is set for transformation
“The building reminds me of one of those classic New York loft warehouses just waiting for its next adventure.”
The Expressions of Interest campaign for the property will close at 4pm (AEDT) on Tuesday, March 10.