Eco properties on the market: A commercial office building boasting a strong renewable energy tenant that’s been recently refurbished by Allen Linz’s Rebel Property, has been placed on the market for more than $50 million.
The property, named “Office HQ”, is 6 Ossary and 40 Ricketty streets, in Mascot, 12 kilometres south of Sydney.
It is anchored by renewable energy innovation company 5B, which describes itself as “a clean technology innovation powerhouse that accelerates access to low-cost, safely deployed, gigawatt-scale solar energy”.
The building is owned and developed by Allen Linz’s Rebel Property and joint venture partner Warren Duncan of Everest Property.
It offers a gross floor area of 5638 square metres over five storeys and comprises a refurbished warehouse repositioned as a creative open office space using renewable materials in an existing structure with high exposed ceilings and an open plan office area.
End-of-trip facilities include 40 car spaces, EV charging stations, bike racks, and showers.
The building is 100 per cent leased with a WALE of 7.93 years. It comes with approval for about 1200 square meters of additional floor space.
Real estate agents Colliers believes that the location is a major drawcard. It’s situated minutes from Sydney Park, the Grounds of Alexandria, Mascot Train Station, WestConnex, East Village Shopping Centre, and Sydney Airport.
Colliers’s listing team includes Miron Solomons and Michael Crombie, in conjunction with Eugene Evgenikos and Steve Kruyer of Stanton Hillier Parker.
“This impressive asset has been designed to create a working environment that’s engaging, welcoming and functional, facilitating the comfort and productivity for the tenants,” Mr Evgenikos said.
“Originally built as a workshop, this brand new designer office features high, exposed ceilings whilst being approved and engineered for an additional level to be added. This quality asset is an opportunity for investors to secure an exceptional freehold in one of Sydney’s most sought-after locations,” Mr Solomons said.
“Benefitting from the dual street frontage/profile and recently having undergone a quality fit-out and refurbishment, the asset presents investors with the chance to capitalise on the booming commercial precinct of Mascot. With record low interest rates and a limited supply, the property is positioned for growth in the tightly-held South Sydney market,” Mr Crombie added.
The property is offered for sale through an expressions of interest campaign closing on Thursday, 26 May 2022 at 4:00PM (AEST).