Former Kirribilli Club premises offered for sale

SYDNEY, 14 August 2024 – A prestige waterfront asset with sweeping harbour views has come to market in the Sydney Harbourside location of Milsons Point.

The property – Lot 1 at 11-23 Harbourview Crescent, Milsons Point – lends itself to multiple potential uses from hospitality, aged care, commercial, medical, and residential (STCA). It is being offered for sale with vacant possession.

JLL has been exclusively appointed to market the asset via an international expressions of interest campaign, with Willem Watson, James Barber, Andrew Rojek, Kate MacDonald and Simon Quinn managing the campaign.

The asset is located in the prestigious suburb of Milsons Point, overlooking Lavender Bay on Sydney's Lower North Shore. The property has sweeping views, along the Sydney Harbour foreshore and toward the Sydney Harbour Bridge and CBD skyline.

Mr Watson said, “The former Kirribilli Club premises is unique. There are no comparable or similar opportunities currently available in terms of its size, location and versatility. It is the first time this iconic Sydney Harbourside site has been offered to market with vacant possession, providing access to a broad range of potential investors and uses, subject to council approval.”

The property extends over three levels (ground, mezzanine, and first), with two levels of basement car parking for 64 cars and a commercial loading dock. In its current form, the fit out features two kitchens and bars, a cocktail lounge, conference facilities, and function rooms. The property has a gross floor area of 4,329.4 sqm.

The property benefits from a favourable MU1 mixed-use zoning, allowing for various alternate uses such as commercial premises, residential, educational facilities, medical facilities (including respite, pathology, oncology, dialysis), gym, hospitality, or a combination of uses across multiple levels (STCA).

Mr Watson said, “Milsons Point is renowned for its high-end luxury residential apartments that achieve premium sale prices due to the proximity to the Sydney CBD, transport options, access to the harbour foreshore and stunning views.” 

Mr Watson highlighted the opportunity for investors to capitalise on the scarcity of the current MU1 zoning in this location, that allows for a mixed-use project. “This project could involve options including converting the levels of the asset into premium residential units, taking advantage of the stunning harbour views or equally the establishment of a medical centre or aged care facility as examples.”

The immediate area is well supported by public transport networks, located 500m from Milsons Point Station, approximately 950m from Milsons Point Wharf and 220m from local bus stops which provide direct access to Sydney CBD and North Sydney and is further underpinned by a quality array of restaurants, cafes and leisure amenity in close proximity.

International Expressions of Interest for Lot 1, 11-23 Harbourview Crescent, Milsons Point close at 3pm (AEST) on 29 August 2024.