Steeped in history and cultural significance, Campbell Stores, the oldest sandstone warehouse of its type in the southern hemisphere at "The Rocks”, is now being offered for the first time in almost 150 years.
It is an opportunity open to many, but rightfully achievable for only a privileged few, as the discerning buyer will not only need to reach a premium price expectation but also nurture, preserve and respect what is one of Australia’s oldest and most recognisable heritage buildings.
This exclusive piece of Sydney’s waterfront nestled between the Opera House and Harbour Bridge, is a superb example of the mid-nineteenth century warehouse buildings that ‘The Rocks’ are so well known for. Once standing as the main hub of commerce and international shipping transport in Australia, it is now globally recognised as Sydney’s irreplaceable waterfront dining and commercial precinct, a landmark of the Harbour and symbol of it’s era. It has historic significance for its association with the Campbell family, one of the most influential families in early Colonial Australia and is the surviving element of a complex of wharves and stores that began in 1801.
“An asset with such a depth of history and significance of being a rare piece of the Sydney Harbour-front makes for a unique asset. An asset that can equally be the crown jewel of a family office or proudly fit in a fund’s portfolio.” Managing Partner and Marketing Agent Eugene Evgenikos of Stanton Hillier Parker stated.
“(Further) there are very few, truly waterfront dining precincts in Sydney let alone properties that enjoy uninterrupted views of the world-famous Harbour Bridge and Sydney Opera House. This is an exquisite property for the astute investor seeking exceptional quality in the asset, tenancy, long WALE, and location.”
In addition to its aesthetic beauty and cultural significance, this iconic property is fully occupied, has a long WALE and high occupancy with diversity of income from multiple tenants. There are strong tenant covenants supported by experienced, multiple venue hospitality operators having an average of 30+ years industry experience as well as potential future upside through turnover rental structure and redevelopment opportunities STCA.
Mr Evgenikos also comments on the painstaking detail the vendors have gone to, not only refurbish but also curate an asset with the highest calibre of food and beverage operators which befits its “unique harbour-front ‘post card perfect’ location.” These substantial refurbishment works completed in 2019 offer significant depreciation allowances for eligible investors.
This world class asset, situated on 4394sqm offers commercial benefits for today and tomorrow and will be sold via Expressions of Interest closing 22nd June 2022.
