The Trocadero, a former colonial-era skating rink in Sydney's Newtown, hits the market
A landmark 19th century building that was the biggest roller skating rink in Sydney is on the market for the first time in more than four decades.
Built during the economic boom of the late 1880s, the Trocadero in Newtown was one of at least 25 rinks in Sydney at the time, when the indoor sport was a raging fad.
The complex was purpose-built for roller skating, which distinguished it from other venues, but also included a billiard room, hairdressing salons, oyster saloons, fountains and a French cafe.
Following a string of skating rink closures in 1891 during the Depression, the entertainment hall shut down in 1893 and was left empty. It was then extensively renovated before reopening as Williams Skating Rink and Music Hall in 1903.
The converted office space is occupied by CanTeen. Photo: Supplied.
The upper clubroom was used as a local centre for soldiers’ wives and mothers by the Sydney University Women’s Settlement from 1916 to 1922.
Owned previously by department store chain Grace Brothers, the building was sold to a local business Properts Motor Body Works in 1945, ending the property’s use as an entertainment venue.
Vendors Moore Theological College, which purchased the Victorian Flemish-style complex in 1974, carried out extensive conservation work in 2006, including restoring the vestibule entry, rebuilding the shopfronts and repainting the façade.
Sales agent Colliers International’s James Cowan could not comment on the expected sales price of 69-77 King Street, but noted that recent comparable sales in the area suggest the market price to be well above $10 million.
The state heritage-listed building, with nearly 1700 square metres of internal space, is leased to non-profit cancer organisation CanTeen.
There is a strong demand for creative office space conversions, agents say. Photo: Supplied
Mr Cowan expects the property to generate a large volume of inquiries, noting that it “falls within the trophy asset category”.
“This building is a rare opportunity to acquire a community landmark in a tightly held precinct, nearby to what is becoming Australia’s central education and cultural hub,” he said.
“Since (the 1880s), it has contributed greatly to the 19th century streetscape of King Street, Newtown, being one of the most elaborate facades on the street.
“The added benefit of this property, and what makes it unique, is the versatility in occupation and generous returns it offers.”
The building has retained its historic character. Photo: Supplied
Mr Cowan’s colleague Matthew Meynell cited a comparable sale of a historic Chippendale warehouse to the University of Technology Sydney, which paid $11.25 million in March this year.
“We are witnessing huge demand in the city fringe for creative office space conversions,” Mr Meynell said.
“We expect to see high net worth individuals, property syndicates and institutions continue to seek out land banking opportunities to future-proof their land area and enjoy the benefits the inner west and city fringe has to offer.”
Colliers International is marketing the listing with Kellys Commercial Group through an expressions of interest campaign, which closes on October 17.
