NSW government to sell site in Sydney’s Inner West: Savills
The NSW government is set to sell its former Motor Registry site in Sydney’s Inner West suburb of Five Dock, just 7 km west of the Sydney CBD.
The state government is going ahead with the divestment as the former Motor Registry was made redundant with the rollout of the new format NSW Service Centres.
Located at 1 Ramsay Road, the 1,970.7 sqm site comprises a large corner parcel of land, which is highly accessible to both public transport and road infrastructure with development potential subject to council regulation.
The existing two-storey brick building has a net lettable area of 372 sqm.
The site has an 8.5 metre height limit, allowing for a prestigious development.
The listing agents are Neil Cooke, Stuart Cox and Johnathon Broome of Savills Australia. The site is being sold through tenders.
The property is currently leased to WestConnex for use as office accommodation and parking for a three-year term expiring in 201-end at a rental of $150,000 per annum net plus GST.
“1 Ramsay Road, Five Dock represents a unique opportunity to acquire a rare Inner West parcel of improved level land with excellent development upside (STCA) situated within close proximity to the Sydney CBD, local retail and transport amenities,” said Cooke.
For buyers wishing to redevelop the site in the short term, the lease in place includes a three-month break clause.
Five Dock offers a cosmopolitan lifestyle with an abundance of parks, foreshores and cafes. Birkenhead Point Outlet Centre, University of Technology Sydney, University of Sydney are also near.
