Demand for assets on the city's fringes is on the rise and this has prompted the listing of a range of properties.
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The Obeid family have put a development site on the market to take advantage of the buoyant commercial property sector.
The site at 129-135 Broadway, on the corner of Broadway and Wattle Street in Ultimo, is opposite Fraser Property and Sekisui House's Central Park project and the University of Technology (UTS), and is listed through CBRE's Matthew Ramsay and Daniel Dragicevich✓.
Mr Ramsay said the location was expected to be a "key draw card for potential purchasers". It is leased to the Notre Dame University and Essen Restaurant & Beer Café, and generates about $396,000 a year in net rent.
Mr Dragicevich said the site was a mixed-use zoning, which allowed for a range of retail, commercial, residential apartment, pub, hotel, student accommodation, childcare, boarding house and motel uses. The area is already popular with publicans, as evidenced by Bruce Solomon and Matt Moran's recent acquisition of the Australian Hotel site.
No comment was made on the value of the Obeid property, but similar sites have sold for about $10 million.
Across town, the retail component of the new Omnia residential development in Potts Point is being brought to the market at a suggested value of about $20 million.
The 1500-square-metre retail component of Omnia is anchored by a 15-year pre-lease to Woolworths and is being sold through CBRE's Nick Willis, Justin Dowers and Sharon Yang. It was developed by Greenland Group.
Mr Willis said the strategic location adjoining the train station, excellent outlook for market growth and high barriers to entry for new retail developments within the inner city market, would be a drawcard for investors.
