Record rates for CBD strata offices continue as premium King Street Wharf suite hits market

SYDNEY, 7 March 2022 – A premium office with unobstructed water views in the world-class Barangaroo and King Street wharf precincts has come to market, as strata offices continue to be a popular destination for investment from investors and owner-occupiers.

JLL’s Willem Watson together with Ray White Commercial’s Anthony Harris have been appointed to sell Suite 305, 35 Lime Street, King Street Wharf via Private Treaty.

Suite 305 boasts enviable western, eastern, and northern facing views over Darling Harbour and the surrounding King Street Wharf. The third-floor office space has a flexible floor plate of 164 sqm, a large entertaining balcony, a car space on separate title and was recently refurbished to feature a high-quality fit-out with an abundance of natural light from three aspects.

Mr Watson said, “The strata office market remains robust, with many businesses continuing to recognise buying as a more financially viable option than renting A-grade office space. This is a trend we are seeing continue from 2021.

“The lack of new strata office supply and sustained owner-occupier demand is flowing into the strata office market in 2022, and we are continuing to see record sales for these assets. Suite 3a, 2 Barrack Street, Sydney transacted earlier this year at a record building rate prior to auction, confirming the continued demand and surge in prices.

“In late 2021, a Sydney CBD office opportunity was sold in the same day it was launched to market, demonstrating how premium space is being hotly contested in the current market. Assets that are elevated, have water views and ample natural light are hard to come by, so we anticipate this King Street Wharf investment opportunity to be quickly snapped up. The market is highly liquid, with widespread yield-driven investors and owner-occupiers looking to ‘right size’ their office space requirements,” said Mr Watson.

The office is located approximately 500m from Wynyard Station and 750m from the soon to be completed Barangaroo Metro station. 

Mr Watson said, “Positioned in the heart of globally renowned Barangaroo, the considerable investment and development of the precinct over recent years has turned it into a highly desired owner occupying and active investor location.”

The final stage of Barangaroo’s revitalisation project is the construction of the Barangaroo Metro and Central Barangaroo retail and food & beverage precinct (estimated at 2023). This will further enhance the connectivity and amenity of the area, making Barangaroo and the surrounding King Street Wharf area one of the most desirable addresses in New South Wales.​