Art Deco icon Willoughby House touted as trophy investment
425 – 429 Pacific Highway, Crows Nest NSW
A historic Art Deco building on Sydney’s lower north shore is being touted as a trophy investment for commercial buyers.
Located at 425-429 Pacific Highway, the five-storey Willoughby House was constructed in 1938 and has recently undergone a multimillion-dollar refurbishment.
Willoughby House has been guided for $20m.
High-net-worth private investors are expected to take interest in the property due to its corner position at the intersection and its unique Art Deco design.
The upcoming Crows Nest metro rail line is also near the building, and is due to be operational in 2024.
The building comes with a diverse income stream from a range of tenants across numerous sectors.
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The nearby Crows Nest metro rail line is due to be operational in 2024.
Guided for circa $20m, the property is being presented for auction through the Colliers team of Miron Solomons and Tom Appleby and CI Australia’s Nick Lowry.
Mr Solomons said the successful buyer of Willoughby House would be able to take advantage of the precinct’s ever-growing demand.
A view inside the office space.
“Set atop Crows Nest’s highest point, this highly renowned five-storey building benefits from its defensive fully leased income profile and secure long-term covenants with prized CPI annual rental increases. We expect to see a strong level of enquiry, as it will undoubtedly appeal to a vast array of astute investors seeking a prized asset.”
The five storey building includes tenants with a gross income of $1.03m per annum.
Tenants that occupy the building include QMS Media, Group Homes Australia, Turka Cafe, Meze and Bar, Portfolio Hair Salon and That Agency – with a gross income of $1.03m per annum.
The 207 sqm building will be presented for sale on the 29th June.
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It will be auctioned off on the 29th June.
“Next year’s metro station opening, compounded with approximately 5,258 new dwellings forecasted to be developed over the next five years, are both set to perpetuate Crows Nest’s transformation in the years to come,” Mr Appleby said.
“Opportunities to purchase freehold assets in tightly held markets with as much private and public infrastructure as Crows Nest are few and far between,” Mr Lowry said.
“Willoughby House presents as the best in its class.”
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