South Sydney landholding with unlimited potential for sale - Colliers

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Oct 2, 2024

South Sydney landholding with unlimited potential for sale - Colliers

Colliers team of Michael Crombie and Trent Gallagher have been appointed to market a standout industrial site, at 253 Coward Street Mascot for sale on behalf of vendor, Time and Place.

Colliers

253 Coward Street Mascot for sale by Colliers

A standout industrial site based in Mascot, one of Australia’s most sought-after institutional-grade investment markets, is now available.

The property at 253 Coward Street presents an exceptional opportunity to acquire a highly versatile development site with unlimited upside potential within the thriving Mascot industrial and commercial precinct, conveniently bordering Mascot’s transforming mixed-use precinct and within walking distance to Mascot train station.

Situated on a substantial 4,047 sqm corner block with superior profile, providing excellent exposure across three street frontages, this opportunity presents significant development potential with an existing DA Approval for a commercial office tower, leveraging a Gross Floor Area (GFA) of 16,287 sqm.

Further supported by the E3 Productivity Support zoning, the property presents diverse purchaser appeal given the dynamic South Sydney location, allowing for a large cross-section of potential future uses, including industrial/commercial strata, self-storage, commercial office, hotel or a hospital (STCA).

The Colliers team of Michael Crombie and Trent Gallagher have the exclusive listing on behalf of vendor, Time and Place, with price expectations north of $30 million.

“A well-located corner site with 3 street frontages, 400m to rail, with a DA approval sounds too good to be true. This is one of the reasons why Mascot is regarded as such a great location to acquire due to the salient fundamentals for both owner and tenant, as well as the unrivalled flexibility on the highest and best use of the land,” Mr Crombie added.

“Rarely do you see a property in such a unique location with so many different value add opportunities which includes owner occupier, industrial, commercial, self storage and data centre re-development STCA,” Mr Gallagher said.

The property has a diverse appeal to a large cross-section of potential purchasers, including owner occupiers, industrial developers, strata developers, office developers, hotels, hospitals and self-storage operators.

253 Coward Street, Mascot is for sale via an Expressions of Interest campaign closing Thursday 31 October 2024 at 3pm (AEDT).