66 KING STREET
Potter George identified a well-located C grade asset with long-standing low-income retail tenants and some office vacancy in need of both upgrading and repositioning. This was at a time when the Sydney CBD market lacked supply of office accommodation for smaller sized professional services tenancies of 50-150sqm.
After purchase, we totally repositioned the asset as a boutique retail office building with high-end retail. We refurbished the office floors giving the space an industrial upmarket feel specifically designed for smaller tenancies: removing the false ceilings to reveal 3 metre high ceilings, exposing new ducting and lights complemented by timber floor boards. We installed a light well at the rear and a green wall of living plants to cleanse the air and add aesthetics for the tenants.
The building is now fully leased and attracting substantially higher rents.
Sydney CBD (next to Louis Vuitton and opposite the Apple Store)
5,680 sqm – 12 floors of commercial; basement, ground floor and Level 1 of retail
KEY RETAIL TENANTS
- Le Pub – Finalist, 2013 AHA NSW