Rare piece of Walsh Bay land offered for sale by NSW government
A rare triangular pocket of land at the pointy end of Sydney’s north-western CBD is expected to spark strong competition among potential buyers.
The vacant freehold 718-square-metre site in Walsh Bay is cut into the sandstone below the southern approach to the Sydney Harbour Bridge and next to the historical Hickson Steps.
Savills has been appointed to sell the 14 Hickson Road site, which has the working title The Hickson and comes with a concept mixed-use development design, on behalf of the NSW government.
The site is in the Walsh Bay arts precinct, close to Sydney Theatre Company and Sydney Dance Company, and adjacent to Barangaroo.
Savills agent Stuart Cox, who has been appointed to market the property with colleagues Robert Lowe and Neil Cooke, said the land was surrounded by some of Sydney’s most expensive real estate.
“Moreover, as Sydney’s prime residential market continues to remain buoyant, coupled with the lack of ultra-prime sites for luxury residences, we expect strong competition for this site, both local and international,” Mr Cox said.
The NSW Government has placed 14 Hickson Road, Walsh Bay on the market. Photo: Supplied by Savills
Walsh Bay is in the suburb of Dawes Point, which was this month ranked 46th out of 555 suburbs in the Domain Liveable Sydney 2016 study.
The suburb received top marks for culture, proximity to employment hubs, cafes and restaurants, harbour views and public transport links.
Architect firm Kann Finch has prepared an indicative concept scheme for a single mixed-use prestigious development of eight levels, comprising 19 apartments above a ground-floor retail space of about 192 square metres.
Two 70-square-metre terraces on levels two and three provide northerly views over Sydney Harbour.
At the time of publication, renders were not available.
The NSW Government has placed 14 Hickson Road, Walsh Bay on the market. Photo: Supplied by Savills
The site has views of the Sydney Opera House from Lower Fort Street, which is on the eastern boundary of the site, and views of Lavender Bay and McMahons Point to the north.
Any development would be subject to the Sydney Regional Environmental Plan No.16.
According to Savills, RP Data recorded 48 sales in neighbouring Millers Point in excess of $2 million in 2015. Apartment buyers in Barangaroo had reported price increases of about 24 per cent and more since 2013.
Expressions of interest for the site close on September 7, 2016.
