Rare group of shops in Sydney's inner west could fetch more than $15 million

Built in 2016, the Union Place complex, owned by Sydney-based Anka Property Group which developed the project, has 200 apartments above the retail spaces. It has a total stratum area of 3376 square metres and a net lettable area of 1185 square metres.

Colliers International selling agent Miron Solomons, who has the listing with Henry Burke and James Cowan, said it was rare for a line of retail properties to be listed together in that area.

“This is a prime opportunity to capitalise on the huge demand and growth of the inner west and peninsula region with little to no retail stock of this calibre offered in one line,” Mr Solomons said.

Mr Burke added that the property’s location was a major drawcard.

“The inner west region has been experiencing consistent growth over the past five years due to its close proximity to the CBD and harbour as well as great transport links and amenities,” he said.

With a weighted average lease expiry of 5.66 years, eight of the nine spaces are leased with a net passing income of $714,027, but this could shoot up to $815,000 if the ninth shop secured a tenant.

There is also future potential for strata subdivision.