4 Hercules Street,
Surry Hills, NSW 2010
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Map of 4 Hercules Street
A 'Mighty' Opportunity - DA Approved
LOCATION
A prime position in the heart of cosmopolitan Surry Hills, directly to the rear of the News Ltd Headquarters, bounded by Uther Street, Hercules Street and Cooper Lane. The property is a level 350m walk to the entrance of Central Railway Station in Chalmers Street and is only 3.1km by road from the GPO/Martin Place.
OVERVIEW
A sound three storey concrete office premises with associated storage offering 674sqm floorplates (approx.) plus adjoining vacant land of 253sqm (approx.) currently used as parking for some 14-16 cars on a 'stacked' basis. The property was formerly the headquarters for the Barrere Surgical Co and Victor Sports in Sydney who have recently relocated to South Sydney. The premises has been let on a short term basis at $390,000 pa gross + GST (outgoings estimate at approx. $90,000p.a or $50/sqm) to The Church of Scientology as a temporary headquarters whilst their Castlereagh Street premises is expanded and refurbished. The one year lease expires on the 14 July 2010 with 2 x 6 month options.
LAND DIMENSIONS & AREA
29.29/21.34 X 43.665/43.44 are the dimensions of the property giving a land area of 926.9sqm (approx. - subject to survey).
REDEVELOPMENT POTENTIAL
DA/2008/52 dated 14.5.08 and DA/2008/1338 dated 14.1..08 pass with the property. This approvals involve the addition of a whole extra level 4 and part level 5 opening to a 254sqm entertainment terrace to be built on top of the existing structure with new construction on the vacant land involving a spectacular open air atrium, generous inset lobby and corner cafe with 4 other retail shops. This iconic scheme involves an overall NLA of 3,111sqm (approx.) with ground floor parking for 7 cars. We understand the site is zoned "Mixed Uses 10" and the approved FSR is 3.45:1 with an 18m height limit applicable to the site.
BUILDING AREAS
We estimate the current Gross Building Area 'as existing' to be 2,022sqm (approx.) - subject to survey - with 3 x 674sqm floorplates with an NLA estimate of approx. 1,800sqm - subject to survey. Prospective purchasers should satisfy themselves entirely in respect of applicable lettable areas.
COMMENT
Surry Hills property is tightly held and an 'add value' opportunity such as 4 Hercules St is truly a one off. Owner-occupiers may decide to utilise the premises 'as is' or redevelop as per approvals in place. Alternatively a multi suite strata development play for an iconic destination retail/office project offering creative flare and inspirational spaces would attract strong interest. Developers may wish to take advantage of the upswing in business confidence and improving market cycle which will come.
The place of choice for most Sydney CBD tenants looking to decentralise to more economical and creative spaces on the outskirts of the City or City Fringe tenants wishing to 'trade up' is Surry Hills, close to Central Railway. We encourage you to be the successful purchaser to enjoy the rental and capital gain potential this ongoing trend has to offer into the future.
For further information please contact exclusive agents Tim Green Commercial or DB Property.
A prime position in the heart of cosmopolitan Surry Hills, directly to the rear of the News Ltd Headquarters, bounded by Uther Street, Hercules Street and Cooper Lane. The property is a level 350m walk to the entrance of Central Railway Station in Chalmers Street and is only 3.1km by road from the GPO/Martin Place.
OVERVIEW
A sound three storey concrete office premises with associated storage offering 674sqm floorplates (approx.) plus adjoining vacant land of 253sqm (approx.) currently used as parking for some 14-16 cars on a 'stacked' basis. The property was formerly the headquarters for the Barrere Surgical Co and Victor Sports in Sydney who have recently relocated to South Sydney. The premises has been let on a short term basis at $390,000 pa gross + GST (outgoings estimate at approx. $90,000p.a or $50/sqm) to The Church of Scientology as a temporary headquarters whilst their Castlereagh Street premises is expanded and refurbished. The one year lease expires on the 14 July 2010 with 2 x 6 month options.
LAND DIMENSIONS & AREA
29.29/21.34 X 43.665/43.44 are the dimensions of the property giving a land area of 926.9sqm (approx. - subject to survey).
REDEVELOPMENT POTENTIAL
DA/2008/52 dated 14.5.08 and DA/2008/1338 dated 14.1..08 pass with the property. This approvals involve the addition of a whole extra level 4 and part level 5 opening to a 254sqm entertainment terrace to be built on top of the existing structure with new construction on the vacant land involving a spectacular open air atrium, generous inset lobby and corner cafe with 4 other retail shops. This iconic scheme involves an overall NLA of 3,111sqm (approx.) with ground floor parking for 7 cars. We understand the site is zoned "Mixed Uses 10" and the approved FSR is 3.45:1 with an 18m height limit applicable to the site.
BUILDING AREAS
We estimate the current Gross Building Area 'as existing' to be 2,022sqm (approx.) - subject to survey - with 3 x 674sqm floorplates with an NLA estimate of approx. 1,800sqm - subject to survey. Prospective purchasers should satisfy themselves entirely in respect of applicable lettable areas.
COMMENT
Surry Hills property is tightly held and an 'add value' opportunity such as 4 Hercules St is truly a one off. Owner-occupiers may decide to utilise the premises 'as is' or redevelop as per approvals in place. Alternatively a multi suite strata development play for an iconic destination retail/office project offering creative flare and inspirational spaces would attract strong interest. Developers may wish to take advantage of the upswing in business confidence and improving market cycle which will come.
The place of choice for most Sydney CBD tenants looking to decentralise to more economical and creative spaces on the outskirts of the City or City Fringe tenants wishing to 'trade up' is Surry Hills, close to Central Railway. We encourage you to be the successful purchaser to enjoy the rental and capital gain potential this ongoing trend has to offer into the future.
For further information please contact exclusive agents Tim Green Commercial or DB Property.
Additional information
Documents
Property ID: 5515589Last Updated: 5 Dec 2013
4 Hercules Street
Surry Hills, NSW 2010
TGC - SydneyLevel 8, 10 Barrack Street
SYDNEY, NSW 2000
SYDNEY, NSW 2000
Contact Agency
X Commercial - Surry HillsLevel 3, 17 Randle Street
SURRY HILLS, NSW 2010
SURRY HILLS, NSW 2010
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