Darling Square Retail, which boasts some of Sydney’s best retail and dining offerings in the award-winning Darling Square mixed use precinct, has been exclusively listed for sale through Colliers.
Colliers’ Managing Director of Retail Capital Markets, Lachlan MacGillivray, is marketing a 100% leasehold interest in Darling Square Retail on behalf of Lendlease, with the offering comprising the North East, South East and South West retail stratums.
The unique and high-performing precinct features 44 retailers across a total footprint of 9,639m2, while also providing 100% occupancy across 4,516m2 of GLA.
“Australian CBD retail precincts are some of the most tightly held, with investment opportunities of this scale, quality and reputation extremely rare,” MacGillivray said. “Underpinned by strong sales productivity and sustainable occupancy costs, the precinct has a secure platform for substantial rental growth.”
The wide tenancy mix provides a bevy of options including restaurants, takeaway stores, coffee shops, bubble tea outlets, ice cream and dessert bars and popular mainstays like McDonalds and Starbucks.
Darling Square Retail has a robust sales record, with a total MAT of $64.7 million and a 61.8% increase year-on year, as well as impressive sales productivity of $18,126m2, 90.3% above benchmark.
Located at the crossroads of the Sydney CBD, Darling Harbour, Haymarket and the Chinatown districts, Darling Square Retail attracts a high level of foot traffic while also being highly connected to the broader Sydney Metropolitan area through bus, light rail and train networks.
Completed in 2019, the Darling Square precinct is an eclectic mix of approximately 1,500 residential units, 26,000m2 of commercial office space, 12,00m2 of retail community and leisure uses, 1,300 bed student accommodation and a 590-room luxury hotel.
A 24/7 economy and surrounded by other mixed-use projects, Sydney’s Western Harbour Precinct is an attraction for both international and domestic visitors and continues to receive unprecedented levels of investment, including in Central Barangaroo, the $2 billion Harbourside mixed use precinct and the new Sydney Fish Market.