This equated to a building rate of $10,256 per square metre, smashing the previous suburb’s record of $6,660 per square metre. The yield achieved was 2.5% percent and the deal was negotiated by David Hickey and Oliver Ridley of Savills Metropolitan & Regional Sales, who said this perfectly positioned corner building is located in a prime Camperdown location.

“The purchaser has taken a longer term view on Camperdown and was attracted to location and capital growth forecast. The property will benefit from having the significant infrastructure upgrades on Parramatta Road and being so close to the Sydney University, Royal Prince Alfred Hospital and bustling King Street retail and night life.”

The prominent single storey building offers two car spaces on an irreplaceable corner landholding of 196sq m* with 45 metres* of dominant exposure to Australia Street, Salisbury Road and Gibbens Street.

The short lease tail provides the opportunity to occupy or re-lease in a tightly held retail property that has been leased for over 30 years and the property has flexible B1 zoning allowing for residential, retail, childcare, medical and boarding house development.

The property is strategically located 750m* to Royal Prince Alfred Hospital, 800m* to Newtown Station, 850m* to Sydney University, and 4.5km* to Sydney CBD.

Mr Ridley said Camperdown is set to benefit from $16.8 billion* being spent on the WestConnex infrastructure upgrades.

“The nearby Parramatta Road Corridor project has the potential to transfer the immediate area into a public transport friendly commercial/retail hub connecting the CBD to the Inner West and beyond.”

*Approximate