Shop 2, 234 George Street is a newly refurbished 51sqm* retail space, with a brand new and high exposure glazed shop front , below The Ashington Project, a 17-storey office building, formerly called Anchor House.

This is one of very few, tightly held prime George Street retail spaces to ever hit the market. Not to mention the highly visible billboard signage rights and it is strategically positioned on a major pedestrian ant tracks connecting Wynyard with the northern end of George Street with potential exposure to millions of pedestrians, light rail passengers, passing motor vehicles.

For sale through Andy Hu and Michael Hui of Savills Australia and Andrew Vines of Retail Commercial Consultancy, the property’s net rent as per lease signed in 2017 equates to approximately $304,911 PA plus GST.

According to Andy Hu, Joint State Head, Asia Markets at Savills Australia, this asset is located in a densely populated commercial/residential precinct surrounded by an unprecedented level of infrastructure and major developments, making it the ideal safe haven investment.

“There is a new, high rise development nearing completion next door and multiple new developments nearby, many with no retail component, making this opportunity as rare as hen’s teeth” he said.

According to Andrew Vines, Senior Director, Retail Commercial Consultancy, the property is in a prominent location with high foot and car traffic with great exposure to the billboard signage.

“There is also outstanding future growth potential for the asset and now that the Light Rail is complete and just moments away, foot traffic will be even greater” he said.

The northern end of George Street is emerging as the most sought after address for premium office space with Multinational companies such as Ernst & Young, Salesforce selecting the location as their preferred locations for long term business in Australia.

The recent office tower completion by Mirvac and the under construction office towers by Poly Group China and Lend Lease demonstrate that some of the biggest names in the property industry are investing hundreds of millions of dollars into this precinct.

Shop 2, 234 George Street, Sydney goes to auction on Thursday, 5 August from 10:30am at Cooley Auction Centre, Level 5, 1 Margaret Street, Sydney.

Learn more about Savills Asia Markets offering here