Darlinghurst’s Ministry of Sound building has circa $12m hopes
200 Crown St, Darlinghurst has circa $12m hopes at the June 13 auction.
The Ministry of Sound building in Darlinghurst is up for auction, described as “the ultimate creative commercial headquarters”.
The historic three-level building at 200-202 Crown St, built originally as a book factory, is in the name of artist Ken Done’s kids, Oscar and Camilla, and the founders of Ministry of Sound Australia, Richard Mergler and Tim McGee.
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It’s described as the “ultimate creative commercial headquarters”.
Oscar Done is a successful property developer. Picture: Sam Ruttyn
The independent record label, now known as TMRW Music, occupied most of the space in the building, a total of 820sqm, but now wants to downsize after the lease expires next year.
Wise Employment occupies the ground floor with another two years on its lease.
The Colliers team of Matt Pontey and Miron Solomons have the listing, in conjunction with Shane Blackett of I.B Property, with expectations of circa $12m at the June 13 auction.
“The Sydney city fringe market has proven to be one of the more stabilised office markets in Australia as the limited supply of commercial office accommodation as well as the post pandemic flock to the fringe, has meant that the market has remained buoyant and stabilised,” Mr Solomons said.
The building offers 820sqm of floor space.
It was originally a book factory.
And Mr Pontey said a range of new office and hotel projects nearby are bringing the area to life. “Projects such as AsheMorgan & TOGA’s Oxford & Foley, Boston Global’s, 25hours
Hotel and SOHO House just up the road from this asset will continue the ascension and excitement locally,” Mr Pontey said.
Mr Blackett said: “The property at 200 Crown St lies at the heart of this dynamic suburb, providing potential occupants with immediate access to a diverse community and the incredible surrounding amenity.”
Property records show the consortium purchased the building for $4.39m in 2012. Oscar Done is a property developer, with projects in Surry Hills, Randwick and more recently Bondi.
