And now, Sydney’s Super Club, ARQ Nightclub and the attached tenancies situated at 10-24 Flinders Street, 4-6 Taylor Street, 8-10 Taylor Street, Darlinghurst look set to get their own makeover, as the combined site area of approximately 1,230sq m is for sale by way of Expressions of Interest through Nick Lower, Selin Ince and Leon Alaban of Savills Australia in conjunction with Harry George of CBRE, on behalf of local vendor, Shadd Daniel Danesi.
The property’s desirable inner city location poses an opportunity to develop a high end mixed use precinct subject to council approval (SCTA) and the properties are offered occupied or vacant.
The site is zoned B2 and has potential for a maximum Gross Floor Area of 3,786 sqm (STCA) across four levels. The City of Sydney is currently undertaking a strategic review of the local planning controls, earmarking Oxford Street as a key priority area for renewal and revitalisation.
The proposed changes would allow for an increase in Floor Space Ratios and height limits in exchange for community cultural spaces, in a bid to transform the tired strip into a massive cultural and creative precinct.
Located at 10-24 Flinders Street, ARQ Nightclub is part of a two and three storey brick building with ground floor retail and residential on the upper floors. Situated on the corner of Flinders and Taylor Streets, EzyMart is the major retail tenant with ARQ and Toki Italian Inspired Restaurant occupying the remaining stores.
4-6 Taylor Street & 8-10 Taylor Street is a two storey brick building currently operating as a Spa & Sauna and has street frontage to Taylor Street with driveway access.
2 Sturt Street is a two storey purpose built night club accessed via Shops 16-18 on Flinders Street with rear driveway access on Sturt Street.
Situated in proximity to Moore Park Entertainment Quarter, the site is perfectly placed to take advantage of the extensive list of hospitality, entertainment, and sporting events on offer including the 48,000 seat Sydney Cricket Ground. Additionally, the NSW Government have committed $865 million to the redevelopment of Sydney Football Stadium which is due for completion towards the end of 2022 and will have a maximum capacity of 45,000 people
Nick Lower, State Director, NSW & VIC Hotels at Savills Australia said “Being the first time offered for sale in 30 years, these properties offer a rare opportunity to secure a significant landholding of numerous freehold assets occupying a prime and well-known position on one of Sydney’s most iconic thoroughfares. This is an ultimate acquisition in any portfolio.”
The site is zoned B2 Local Centre under the Sydney Local Environmental Plan 2012. It has a maximum permissible building height of 15m-18m and maximum FSR of 2.0:1-3.5:1 on each site respectively. Whilst the sites are not identified as heritage items, they are located in the Paddington Urban Conservation Area.
The City of Sydney recently earmarked Oxford Street as a key priority area for renewal and revitalisation within the Local Strategic Planning Statement (City Plan 2036) endorsed in 2020.
The draft planning proposal supports that the FSR and height limit is increased to 3.5:1-4:1 (with additional bonuses totalling 0.8:1 available) and 18m-23m, respectively, which will allowed for 6,000 sqm* (STCA) of allowable GFA across five to six storeys.
According to Harry George, Associate Director - Capital Markets at CBRE, “The City of Sydney is currently undertaking a strategic review of the planning controls that govern the local area with the aim of future proofing the area as a vibrant cultural and creative precinct.
“The proposed changes to planning rules will allow for taller buildings along Oxford Street, in a bid to transform the tired strip into a massive cultural and creative precinct.
“ARQ represents an extremely rare opportunity for an incoming purchaser to secure a property within one of Sydney’s finest inner-city suburbs” he said.
The property is exclusively for sale by Expressions of Interest.
*Approximate