8 CUNNINGHAM STREET HAYMARKET INFORMATION MEMORANDUM

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1 HAYMARKET INFORMATION MEMORANDUM

2 CONTENTS 01 EXECUTIVE SUMMARY 3 02 INTRODUCTION 4 03 LOCATION 5 04 PROPERTY DESCRIPTION 6 05 PLANNING CONTROLS 7 06 RECENT SALES 9 07 SALE PARTICULARS 11 2 Information Memorandum

3 01 EXECUTIVE SUMMARY PROPERTY ADDRESS 8 Cunningham Street, HAYMARKET NSW 2000 TITLE REFERENCE Lot 6 in Deposited Plan DESCRIPTION The subject property is a three level rendered brick building with a loading dock accessible from Cunningham Street. The property is surrounded by a number of large developments and is adjoined by two buildings of a similar style. LOCATION: The building is situated at the southern end of Sydney s central business district in the local government area of the City of Sydney. The building enjoys great local amenities with World Square shopping centre and the Chinatown district only a short stroll away. ZONING The property is zoned B8 Metropolitan Centre under the Sydney Local Environmental Plan LAND AREA Approximately m² BUILDING AREA Ground Floor and loading dock 130 m² Ground Floor Mezzanine 18 m² Level m² Level m² Total Area 420 m² DIMENSIONS 7.32 / 7.32 x / TENURE Vacant Possession METHOD OF SALE Auction: Venue: Wednesday, 24 June 2015 at 10.30am Colliers International Level 30, Grosvenor Place, 225 George Street, Sydney 3 Information Memorandum

4 02 INTRODUCTION PropertyFox and Colliers International, under instructions from Ferrier Hodgson, are pleased to offer 8 Cunningham Street, Haymarket for Sale by Public Auction. 8 Cunningham Street presents a unique opportunity in the heart of Haymarket, being conveniently situated only a short stroll to World Square Shopping Centre and all that Chinatown has to offer. The entrance to the property is on Cunningham Street, which is accessible from both Goulburn Street and Pitt Street. It is not often that a freehold building in the centre of Haymarket is offered to the market. It is even more scarce to find a building that presents multiple options to redevelop or refurbish in the middle of Sydney. This rare opportunity is to be sold via Public Auction on Wednesday, 24 June 2015 at Colliers International, Level 30, 225 George Street, Sydney. Aerial View of 8 Cunningham Street, Haymarket (Boundary Approximate) 4 Information Memorandum

5 03 LOCATION The building is situated at the southern end of Sydney s central business district in the local government area of the City of Sydney. The building enjoys enviable local amenities with World Square Shopping Centre and Chinatown providing restaurants, cafes, and bars. The surrounding area also benefits from substantial infrastructure that has and is in the process of being completed at the southern end of the city. A wide range of public transport facilities include the suburban rail, light rail, buses and coaches are within 5 minutes walk, ensuring seamless travel to and from the building. The building is in great company with neighbours including Roden Cutler House, 59 Goulburn Street, Imperial and Aspect. In addition to this the nearby Quest World Apartments and Meriton Serviced Apartments provide an impressive accommodation offering. Map of Building Location 5 Information Memorandum

6 04 PROPERTY DESCRIPTION Item Land Area: 8 Cunningham Street, Haymarket m² approximately Building Areas: Ground Floor and loading dock 130 m² Ground Floor Mezzanine 18 m² Level m² Level m² Total Area: 420 m² Zoned: B8 Metropolitan Centre City of Sydney Council Dimensions & Title: 7.32 / 7.32 x / Lot 6 in Deposited Plan Taxable Land Value: $855,667 for 2015 Statutory Outgoings: Land Tax: $6, per annum Council Rates: Water Rates: Floor Space Ratio: 8:1 Area 2 Height of Buildings: $9, per annum $1, per annum 6.4 Accommodation floor space (1) A building that is in an Area, and is used for a purpose specified in relation to the Area in paragraph (a), (b), (c), (d), (e), (f) or (g), is eligible for an amount of additional floor space (accommodation floor space) equivalent to that which may be achieved by applying to the building the floor space ratio specified in the relevant paragraph: (a) Area 1, hotel or motel accommodation 6:1, (b) Area 1, office premises, business premises, retail premises, residential accommodation or serviced apartments 4.5:1, (c) Area 2, office premises, business premises or retail premises 4.5:1, (d) Area 2, residential accommodation, serviced apartments or hotel or motel accommodation 6:1, (e) Area 3, office premises, business premises or retail premises 2:1, (f) Area 3, residential accommodation, serviced apartments or hotel or motel accommodation 3:1, (g) Area 4, residential accommodation, serviced apartments or hotel or motel accommodation 1.5:1. (2) The amount of additional floor space that can be achieved under a paragraph is to be reduced proportionally if only part of a building is used for a purpose specified in that paragraph. (3) More than one amount under subclause (1) may apply in respect of a building that is used for more than one purpose. Classified as Area 3 There is no maximum height designated for Area 3. The maximum height for buildings on this land are determined by the sun access planes that are taken to extend over the land as prescribed in the LEP. Heritage Items: The subject property is not listed as a heritage item on the register. 6 Information Memorandum

7 05 PLANNING CONTROLS ZONE B8 METROPOLITAN CENTRE 1. OBJECTIVES OF ZONE To recognise and provide for the pre-eminent role of business, office, retail, entertainment and tourist premises in Australia s participation in the global economy. To provide opportunities for an intensity of land uses commensurate with Sydney s global status. To permit a diversity of compatible land uses characteristic of Sydney s global status and that serve the workforce, visitors and wider community. To encourage the use of alternatives to private motor vehicles, such as public transport, walking or cycling. To promote uses with active street frontages on main streets and on streets in which buildings are used primarily (at street level) for the purposes of retail premises. 2. PERMITTED WITHOUT CONSENT Nil 3. PERMITTED WITH CONSENT Child care centres; Commercial premises; Community facilities; Educational establishments; Entertainment facilities; Function centres; Information and education facilities; Passenger transport facilities; Recreation facilities (indoor); Registered clubs; Respite day care centres; Restricted premises; Roads; Tourist and visitor accommodation; Any other development not specified in item 2 or PROHIBITED Nil. 7 Information Memorandum

8 FLOOR SPACE RATIO: 8:1 HEIGHT OF BUILDINGS: Classified as Area 3 There is no maximum height designated for Area 3. The maximum height for buildings on this land are determined by the sun access planes that are taken to extend over the land as prescribed in the LEP. 8 Information Memorandum

9 06 RECENT SALES Although there is limited sales evidence for three storey freehold buildings, there have been a number of impressive sales in the Haymarket area of late, primarily on George Street. 713 George Street, Haymarket A four storey property in the heart of Chinatown. This building has a site area of approximately 275 m² and a net lettable area of approximately 489 m². Sale Particulars Sale Date September 2014 Price per m² $24,364 /m² Sale Amount $6,700,000 Building Area 275 m² 757 George Street, Haymarket Three storey building located on a large site, primed for a mixed use development in the near future. Sale Particulars Sale Date July 2014 Price per m² $37,157 /m² Sale Amount $23,000,000 Building Area 619 m² 746 George Street, Haymarket 9 Information Memorandum

10 A two storey building in the heart of Chinatown, with Bing Lee being the anchor tenant. The building has a net lettable area of 984 m². Sale Particulars Sale Date May 2014 Price per m² $37,829 /m² Sale Amount $11,500,000 Building Area 304 m² 750 George Street, Haymarket A six-level building including basement and mezzanine, formerly known as the 'English's Chamber', built in 1890 and refurbished in 1989 with a net lettable area 553 m². Sale Particulars Sale Date November 2014 Price per m² $49,539 /m² Sale Amount $7,530,000 Building Area 152 m² 10 Information Memorandum

11 07 SALE PARTICULARS 8 Cunningham Street, Haymarket is being offered to the market by way of Public Auction. Auction: Venue: Wednesday, 24 June 2015 at 10.30am Colliers International Level 30, Grosvenor Place, 225 George Street, Sydney For more information or to arrange a private inspection, please contact the exclusive selling agents: Tim Fox Matt Pontey Jordan Lee PropertyFox Colliers International Colliers International M: M: M: E: E: E: 11 Information Memorandum

12 DISCLAIMER This report has been prepared by Colliers International and PropertyFox for the information of potential purchasers to assist them in deciding whether they are sufficiently interested in the property offered to proceed with further investigation in relation to the property. The information contained in this report does not constitute any offer or contract of sale; it is provided as a guide only; and has been prepared in good faith and with due care. Potential purchasers must take note that the figures and calculations contained in this report are based upon figures provided to us by outside sources and have not been verified by us in any way. We have no belief one-way or the other in relation to the accuracy of such information. Any projections contained in this report represent estimates only and may be based on assumptions that may be incomplete, incorrect or erroneous. Potential purchasers must satisfy themselves in relation to all aspects of the report including development potential and cost; market take up; rent levels; outgoings; and all other matters a prudent purchaser would consider relevant. The Vendor, Colliers, PropertyFox or their employees, agents or representatives will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that a potential purchaser relies upon that is contained in this report or any other marketing material. The property will be traded or sold as is and with all faults, without any representation or warranty as to its condition; fitness for any particular purpose; or compliance with any relevant law. The Vendor reserves the right, at its sole discretion, to postpone or cancel the proposed trade or sale of the property and to modify or add any terms and conditions to any proposed contract, vendor s statement or other material associated with the proposed sale, which may be made available to a potential purchaser. 12 Information Memorandum

13 ANNEXURE 01: PLANS 8 CUNNINGHAM STREET, HAYMARKET 13 Information Memorandum

14 LEVEL 1 ENTRY UNDER STAIR STORAGE TIMBER MEAT LOCKER BATH- ROOM STORAGE LAND -ING HALLWAY LOADING BAY daw & walton CONSULTING SURVEYORS ABN: PTY LTD PO BOX 3222, REDFERN, NSW, 2016 Ph: (02) Fax: (02) Project: FLOORPLAN SURVEY 8 CUNNINGHAM STREET HAYMARKET NSW 2000 Client: FERRIER HODGSON Job No: Surveyed on: by: M. Elliott & L. Wang Drawn on: by: M. Elliott Scale: 1:100

15 LEVEL 1 MEZZANINE LOFT ROOM daw & walton CONSULTING SURVEYORS ABN: PTY LTD PO BOX 3222, REDFERN, NSW, 2016 Ph: (02) Fax: (02) Project: FLOORPLAN SURVEY 8 CUNNINGHAM STREET HAYMARKET NSW 2000 Client: FERRIER HODGSON Job No: Surveyed on: by: M. Elliott & L. Wang Drawn on: by: M. Elliott Scale: 1:100

16 LEVEL 2 LAND -ING LAND -ING BATHROOM WALKWAY HALLWAY STUDIO STUDIO STUDIO BATH- ROOM daw & walton CONSULTING SURVEYORS ABN: PTY LTD PO BOX 3222, REDFERN, NSW, 2016 Ph: (02) Fax: (02) Project: FLOORPLAN SURVEY 8 CUNNINGHAM STREET HAYMARKET NSW 2000 Client: FERRIER HODGSON Job No: Surveyed on: by: M. Elliott & L. Wang Drawn on: by: M. Elliott Scale: 1:100

17 LEVEL 3 LAND -ING STUDIO STUDIO BATH- ROOM daw & walton CONSULTING SURVEYORS ABN: PTY LTD PO BOX 3222, REDFERN, NSW, 2016 Ph: (02) Fax: (02) Project: FLOORPLAN SURVEY 8 CUNNINGHAM STREET HAYMARKET NSW 2000 Client: FERRIER HODGSON Job No: Surveyed on: by: M. Elliott & L. Wang Drawn on: by: M. Elliott Scale: 1:100

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20 146 & 146A TUNSTALL AVENUE Colliers International Level 30, Grosvenor Place 20 Colliers International Information Memorandum 225 George Street, Sydney colliers.com.au